US job openings unexpectedly drop in October

Job openings in the U.S. unexpectedly dropped in October. The number of open positions decreased by 151,000 to 5.38 million, according to a Labor Department report. Even with the decline, the number of openings is just a little lower than July’s 5.67 million, which was the highest since 2000.

The pace of job openings may start to moderate with the economy approaching maximum employment, as companies fill vacancies with skilled and experienced workers.

Job openings peaked over the summer and have been moving more or less sideways since then. The report showed job openings fell at manufacturers, business-service providers and retailers. They increased in the construction industry and at restaurants.

Read more from Bloomberg


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