By Salma El-Sakka
U.S. employers significantly increased job postings in September, suggesting that stronger economic growth may be spurring more hiring, according to Labor Department data released Tuesday.
Job Openings Rise to 7.5 Million
The number of job openings jumped to 7.5 million from a revised 7.19 million in August, marking the highest level since May and a notable increase from a recent low of 6.9 million in March.
Hiring Rises While Layoffs Decline
The Job Openings and Labor Turnover Survey (JOLTS) also showed that gross hiring increased and layoffs fell in September, a hopeful sign that hiring could improve if the trend persists for several months.
Labor Market Churn Remains Low
Hiring has been sluggish for nearly three years, even as layoffs have stayed historically low, indicating meager churn in the labor market. Low churn provides job security for those employed but makes it harder for job seekers to find work.
