Last Friday the Bureau of Labor Statistics measured the current unemployment rate at 9.8%, which to everyone's dismay, is the highest since April 2010. But a recent data released by Labor Department's Job Openings and Labor Turnover Survey suggests that the October job openings exceeded by 400,000 compared to September numbers. October had 3.4 million job openings compared to 3 million in September. Most of the job openings have been in the service, education, and health service industries. The article also states that ratio of unemployed workers to job openings was the lowest since 2009, indicating that more and more unemployed workers have started looking for jobs more aggressively.
The spending environment must turn optimistic once again in order to encourage consumption. The increase in consumer spending behavior will create place for investments and help lower unemployment.
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