U.S. job openings data points to growing worker shortage

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Source: Fox Business
By Lucia Mutikani
December 10, 2018

U.S. job openings rebounded in October, but hiring continued to lag, suggesting a recent slowdown in job growth was most likely because employers could not find qualified workers.

“This report continues to paint a picture of an increasingly tight labor market,” said John Ryding, chief economist at RDQ Economics in New York. “It continues to signal that the Fed has fully met its employment objective.”

Job openings, a measure of labor demand, increased by 119,000 to a seasonally adjusted 7.1 million. That lifted the job openings rate to 4.5 percent from 4.4 percent in September. There were 6.1 million people unemployed in October.

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