{"id":23530,"date":"2016-01-13T14:46:09","date_gmt":"2016-01-13T20:46:09","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=23530"},"modified":"2016-01-14T10:16:44","modified_gmt":"2016-01-14T16:16:44","slug":"hiring-shows-continued-strength","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/hiring-shows-continued-strength\/","title":{"rendered":"Hiring shows continued strength"},"content":{"rendered":"

By Xuanyan Ouyang<\/strong><\/p>\n

Employers hired more new workers in November, indicating the nation\u2019s labor market continues its expansion, according to a report released by the U.S. Department of Labor Tuesday.<\/p>\n

The number of hires rose by 3.6% to 5.2 million in November, the Bureau\u2019s Job Openings and Labor Turnover report said. Data in the report also suggested some employers are now having trouble filling certain positions: the number of job openings increased by 3.7 percent, to 5.4 million.
\n<\/p>\n

Number of People Hired<\/h2>\n
\"Hires
The number of hires has increased steadily since the recession ended.\u00a0The darker gray bar indicates the recession period. (SOURCE: U.S. Department of Labor)<\/figcaption><\/figure>\n

Job Openings<\/h2>\n
\"Job
Job openings have also increased.\u00a0The darker gray bar indicates the recession period. (SOURCE: U.S. Department of Labor)<\/figcaption><\/figure>\n

The report is \u201cconsistent with our view that the labor market will continue to improve, but that we will see some moderation in job growth,\u201d J.P. Morgan economist Daniel Silver said in an online note.<\/p>\n

The latest data \u201cindicates the potential for continuing and solid job growth,\u201d said Joel Naroff, an economic strategist and advisor.<\/p>\n

\u201cWhile this report ain\u2019t showing any big growth in openings, the level is still pretty high,\u201d Naroff said, \u201cand the labor market is still in good shape. \u201d<\/p>\n

Hires in the accommodation and food services sectors increased by 59,000 and 40,000 respectively. In contrast, hires dropped by 4,000 in the health care sector, as employers apparently found difficulty in finding qualified candidates.<\/p>\n

As a result, job openings showed the strongest growth in industries such as health care and social assistance, accommodation and food services, while unfilled positions in the construction industry were much smaller.<\/p>\n

The latest report suggests \u201cthe labor market is tight,\u201d said Naroff, explaining that accommodation, food services and construction are low-skilled industries and have high turnover while higher skills are required in health care which lacks qualified workers.<\/p>\n

The report also noted that the number of people quitting their jobs was also on the rise, increasing by 1.7% to 2.8 million. The so-called \u201cquits\u201d figure is considered an important statistic because it offers clues about workers\u2019 confidence in the economy.<\/p>\n

Number of People Who Quit Their Jobs<\/h2>\n
\"Number
Quits has climbed in recent years in the labor market. The darker gray bar indicates the recession period. (SOURCE: U.S. Department of Labor)<\/figcaption><\/figure>\n

The quit figure is still relatively low, but the fact that it is rising indicates that \u201cworkers are more confident to start moving around. It has not been done for a decade,\u201d the economist said.<\/p>\n

But Naroff said that after years of slack labor demand, workforce tightness promises to become a challenge to U.S. businesses.<\/p>\n

With a shrinking pool of available workers, he concluded, \u201cThe big issue facing businesses this year will be keeping wages under control.\u201d<\/p>\n

Photo at top: Economists predict the labor market will continue to strengthen, welcome news for job hunters. (Tom Cherry)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Xuanyan Ouyang Employers hired more new workers in November, indicating the nation\u2019s labor market continues its expansion, according to a report released by the U.S. Department of Labor Tuesday. The number of hires rose by 3.6% to 5.2 million in November, the Bureau\u2019s Job Openings and Labor Turnover report said. Data in the report […]<\/p>\n","protected":false},"author":202,"featured_media":23532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,28,585],"tags":[],"class_list":["post-23530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general-interest","category-winter-2016"],"yoast_head":"\nHiring shows continued strength - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/hiring-shows-continued-strength\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hiring shows continued strength - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Xuanyan Ouyang Employers hired more new workers in November, indicating the nation\u2019s labor market continues its expansion, according to a report released by the U.S. Department of Labor Tuesday. 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