Wednesday, December 12, 2018

Factories at Full Blast

Job openings have surged at U.S. manufacturers of durable goods from machinery to cars in recent months. New data out from the Labor Department suggests that, in particular, job openings for factories have reached an all-time high.

The job openings rate for the durable-goods manufacturing industry reached 4 percent in October, a record since they started keeping this data back in 2000. That’s up from 3.7 percent in September and 3.1 percent a year earlier. Total factory openings were 332,000, compared with about 8 million jobs in the sector.

Overall, the number of job openings in the U.S. rose slightly in October to just over 7 million, which is very close to a record high. Job openings had hit an all-time record of 7.3 million in August.

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