The employers in the United States offered the highest number of job openings in November in about 14 years, providing enough evidence that the strong hiring recorded in 2014 will likely continue this year too.
According to the US Labor Department, the job openings in the month of November increased 2.9 percent to 4.97 million, the most recorded since January 2001.
More employment vacancies also encouraged more hiring. However, the employers were seen slowing the process to fill their job openings for most of the recovery.
The jobs report, released on Friday, showed that the US employers added a total of 252,000 jobs in December, pronouncing the best year for hiring in last 15 years. About three million more people commenced earning paychecks last year. That was the most recorded since 1999.
Job openings have soared in 2014. This signals that the companies still want to engage in more hiring this year even after a large number of jobs offering in 2014.
Writing in a note to clients, Ian Shepherdson, chief economist at Pantheon Macroeconomics, said, “The surge in the number of job openings since last spring is nothing short of spectacular Should such increases continue, the greater is the chance the wage pressures intensify.”
Whatever be the scenario of the labor market, but the improvements here hasn’t yet boosted the hourly pay. As the unemployment rate continues to be lower, the employers are expected to offer higher pay so as to attract the workers as per their requirement. But experts say there is a little indication that wages have started to increase yet.