Summary Box: Companies posted fewer jobs in August

AP News
|
Posted: Oct 12, 2011 5:05 PM
Summary Box: Companies posted fewer jobs in August

JOB OPENINGS DROP: Employers advertised fewer jobs in August than the previous month, a sign some may have pulled back on hiring plans as recession fears flared and the stock market gyrated. Openings fell to 3.1 million from 3.2 million in July.

COMPETITION INCREASES: That may sound like a lot of jobs, but there were 14 million people unemployed in August. That means there were, on average, 4.6 unemployed people for each available opening. That's up from 4.3 in July.

LAYOFFS DIP: Fortunately, the Labor Department report said layoffs aren't getting worse. Layoffs have dropped and are back to pre-recession levels.