More US jobs advertised in Oct.
U.S. employers advertised more jobs in October than September, a hopeful sign that hiring could pick up in the coming months.
The Labor Department said Tuesday that job openings rose by 128,000 to 3.68 million. That’s the most since June.
The number of available jobs is climbing back slowly to the roughly 4 million that were advertised each month before the recession began in December 2007.
With nearly 12.3 million people unemployed in October, there were 3.3 unemployed people, on average, competing for each open job. That’s the lowest ratio since November 2008. Still, in a healthy economy, the ratio is roughly 2 to 1.
Trade deficit grows
The U.S. trade deficit increased in October because exports fell by a larger margin than imports, a sign that slower global growth could weigh on the U.S. economy.
The Commerce Department said Tuesday that the trade deficit grew 4.8 percent in October from September to $42.2 billion.
Exports dropped 3.6 percent to $180.5 billion. Sales of commercial aircraft, autos and farm products all declined.
Imports fell 2.1 percent to $222.8 billion, reflecting fewer shipments of cellphones, autos and machinery.
The trade gap with China also increased to a record high, which will keep pressure on the Obama administration. Manufacturers and U.S. lawmakers have complained about China’s use of unfair trade practices.
From wire reports