WASHINGTON (AP) -- The number of U.S. job openings remained near the highest level in 13 years in July, and companies also stepped up hiring that month to the fastest pace in nearly seven years, two signs the job market is slowly healing.<br />
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The tally of available jobs ticked down 2,000 to 4.67 million in July, the Labor Department said Tuesday. The drop was led by a decline in government job postings. Businesses actually advertised slightly more jobs.<br />
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Total hiring, meanwhile, jumped 81,000 to 4.87 million, the highest level since December 2007, when the Great Recession began. That indicates companies are more likely to fill their open jobs. Still, that is below the pre-recession average of just over 5 million hires a month.<br />
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The figures suggest the job market is still making progress, despite last week's mildly disappointing employment report. That report showed that employers added a net total of just 142,000 jobs in August, the fewest since December. The unemployment rate fell to 6.1 percent from 6.2 percent, but only because some of those out of work gave up looking. The government doesn't count people as unemployed unless they are actively searching.<br />
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Research by economists at JPMorgan Chase has shown that a rise in openings is typically followed 1-2 months later by greater net job gains.<br />
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"With the number of jobs available still near a 13-year high, the slowdown in net hiring exhibited in the August payrolls report is likely to be short-lived," John Silvia, an economist at Wells Fargo, said in a research note.<br />
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Job openings fell in manufacturing and construction, while they rose in retail and hotels and restaurants.<br />
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Tuesday's figures come from the Job Openings and Labor Turnover survey, or JOLTS, which provides a more detailed look at the job market than the employment report. It reports figures for overall hiring, as well as the number of quits and layoffs. The monthly jobs figures are a net total of job gains or losses.
