Job Market Showing Signs Of Life
MIAMI (CBSMiami.com) – Unemployment remains at historic levels in South Florida, but in other parts of the country, the recession is turning around.
According to the Labor Department, in March, companies advertised the most jobs since the peak of the 2008 financial meltdown that sparked the Great Recession.
Labor Department numbers showed job openings rose by 99,000 to 3.1 million in March. It marked the highest number of openings since September 2008 and the second straight monthly increase.
Still, the numbers are nowhere near where they need to be for the unemployment rate to drop significantly. In December 2007, when the recession began, there were 4.4 million job openings.
Plus, there was an average of 4 people competing for each job. Economists say the ratio should be 2 to 1 for the overall job market to be considered healthy.