“Job openings in the U.S. climbed in October to a four-month high, indicating the labor market is on the mend.

The number of positions waiting to be filled rose by 128,000 to 3.68 million from a revised 3.55 million the prior month, the Labor Department said today in Washington. Hiring also increased.

The pickup in openings lays the ground for the job growth needed to sustain consumer spending, which accounts for about 70 percent of the economy. At the same time, the lack of stronger employment prospects and a jobless rate that remains elevated help explain why Federal Reserve policy makers, meeting today and tomorrow, are weighing additional easing to spur growth.”

“Regular readers are aware that one of our favorite data series when it comes to demonstrating the quality aspect of the American “recovery” (the quantity is sufficiently taken care of with part-time workers filling in positions without benefits and job security in the New Normal) is that showing the annual average hourly earnings growth in nominal terms, which in November posted the tiniest bounce from its all time low print of 1.2%, rising to 1.3%…”

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“In a tracking survey that estimates the percentage of the U.S. population employed at least 30 hours a week, Gallup reports that the payroll-to-population (P2P) employment rate fell from 45.7% in October to 43.7% in November….”

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“9:58PM EST December 6. 2012 – The strike that crippled two of the nation’s busiest shipping ports was settled this week, but the trend it spotlighted — the offshoring of service jobs — is expected to continue to grow across the USA.

The eight-day walkout by clerical workers at the ports of Los Angeles and Long Beach largely centered on the outsourcing of their jobs overseas and elsewhere in the U.S., says Craig Merrilees, a spokesman for the International Longshore and Warehouse Union. Shippers denied outsourcing jobs, but the tentative settlement restricts the practice, according to the Associated Press.

Yet service companies have been sending jobs abroad in large numbers the past decade to cut labor costs — a trend that accelerated in the recession and is expected to continue the next few years before slowing after 2016. About 663,000 large-company jobs in information technology, human resources, finance and purchasing — the category that includes the port workers — have been offshored since 2002, according to The Hackett Group.

By 2016, the consulting firm estimates, another 375,000 jobs in the sectors will be moved abroad. More than a third of the U.S. jobs in those industries in 2002 will have moved offshore by 2016….”

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“While the GETCO algos care only about one thing: the headline NFP number derived by the establishment survey, the reality is that in November this number was strictly a divination of seasonal adjustments (which resulted in the typical for November 1.2 million “gain” in jobs), as well as who knows what other Sandy-related adjustments which the BLS has not broken down, the reality is that a more granular dig through the jobs data reveals a far uglier picture, especially for those in the prime working demographic between 25-54. This has been a sensitive issue for the pundits as ever since the arrival of the Obama administration, all the job gains have gone in the 55 and older job category as we now see age outsourcing, while jobs in the 55 and lower age group have imploded. Sure enough, the November data, when seen through the prism of the Household Survey’s age distribution, is frankly horrendous….”

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The unemployment rate is 7.7%

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1. Creative
2. Organizational
3. Effective
4. Motivated
5. Extensive experience
6. Track record
7. Innovative
8. Responsible
9. Analytical
10. Problem solving 

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“Struggling to find a job? If you’re an accountant, computer systems analyst or event coordinator, there’s a good chance your luck will change in 2013.

These three professions are among the best jobs that require a bachelor’s degree for 2013, according to a new study byCareerBuilder and Economic Modeling Specialists Intl. (EMSI).

The study used EMSI’s rich labor market database, which pulls from over 90 national and state employment resources and includes detailed information on employees and self-employed workers, to find the 18 top jobs for 2013, based on the occupations with the most jobs added since 2010.

“The list identifies occupations that are on an upward trajectory regarding employment,” says Matt Ferguson, chief executive of CareerBuilder. “Job seekers can gain insights into where companies are expanding and opportunities that are available.”

The occupation that has produced the most jobs post-recession: Software developer (applications and systems software). Since 2010, 70,872 jobs have been added (7% growth).”

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If we are to agree with this article, then should we not refocus emphasis on education fined tuned to our new economy ? Also for all those who fall through the cracks in an ever changing economy, should we not also focus on ways to get citizens back into the labor force to become productive citizens ? As opposed to finding  a service sector job for $8-$12 per hour ?

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Last weeks 393k was upticked to 408k due to hurricane Sandy….

Continuing claims drop a bit to 3.02m

Planned job cuts reach the second highest number of the year @ 57,081…

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“Australia’s unemployment rate unexpectedly dropped in November as a labor market driven by mining-industry hiring weathers a weaker global economy, sending the local currency higher.

The jobless rate fell to 5.2 percent from 5.4 percent in October, the statistics bureau said in Sydney today. That compares with the median estimate for unemployment of 5.5 percent in a Bloomberg News survey of 27 economists. The number of people employed advanced by 13,900, compared with the consensus forecast for no change.

The data underscore the strength of the world’s 12th- largest economy, which expanded at an annual pace of 3.1 percent last quarter driven by resource investment. Reserve Bank of Australia Governor Glenn Stevens lowered interest rates by a quarter percentage point this week, bringing to 1.75 points the cuts since Nov. 1 last year as he seeks to revive industries outside mining, where investment is expected to peak next year.”

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Here is an interesting story about a lady who left the rat race to chase her dream….

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“Clerical workers at the ports of Los Angeles and Long Beach, the largest U.S. port complex, agreed to end an eight-day strike that affected about $1 billion of trade a day.

Workers and management reached a tentative agreement on a new contract, according to astatement late yesterday on the website of the International Longshore & Warehouse Union. The deal came after talks were held with federal mediators.

The strike cost the local economy “billions of dollars,” Los Angeles Mayor Antonio R. Villaraigosa said in a separate statement. The two ports, which together handle about a third of U.S. container imports, shuttered 10 of 14 cargo-box terminals, stranding shipments of toys, furniture and clothes in the run-up to the holiday period.

“We must waste no time in getting the nation’s busiest port complex’s operations back up to speed,” Villaraigosa said.”

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manufacturing gets crushed by 16k due to Sandy

Here is a sobering chart from Barry Ritholtz….

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“Eurostat reports that unemployment in the euro area has risen again:

The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in October 2012, up from 11.6% in September. The EU271 unemployment rate was 10.7% in October 2012, up from 10.6% in September. In both zones, rates have risen markedly compared with October 2011, when they were 10.4% and 9.9% respectively…”

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“LOS ANGELES (AP) — Labor talks are resuming in an effort to end a strike that shut down most of the terminals at the nation’s busiest port complex, the Los Angeles and Long Beach harbors, officials say.

A strike launched by 70 clerical workers on Monday led to a massive backup on Thursday, after the strike expanded to shutter seven of eight Los Angeles terminals and three of six Long Beach terminals. Dockworkers from their union refused to cross their picket line.

The lead negotiator for the Los Angeles/Long Beach HarborEmployers Association Stephen Berry said he wrote a letter to the union president Thursday afternoon to invite him back to the negotiating table with no preconditions.”

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GSP gets upgraded from 2% to 2.7%

“German unemployment climbed for an eighth straight month in November as Europe’s debt crisis curbed company investment and economic growth.

The number of people without a job increased a seasonally adjusted 5,000 to 2.94 million, the Federal Labor Agency in Nuremberg said today. Economists forecast a gain of 16,000, the median of 37 estimates in a Bloomberg News survey shows. The adjusted jobless rate held at 6.9 percent. Separately, a gauge of economic confidence in the euro area unexpectedly rose.”

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