The BLS reported yesterday that job openings rose to 3,362,000 in October, which was the highest level since August 2008, more than two years ago. Compared to the cyclical low of 2,338,000 in July of last year, job openings have risen by more than one million and by 44% through October of this year.
Although the ongoing increase in job openings hasn't translated yet into a lower unemployment rate (see chart above), it's another sign that conditions in the labor market are gradually improving and headed in the right direction.
