Job openings blip up to 6.7 million in October
Job postings situs slot online rose to 6.65 million in October from 6.49 million in September, the Labor Department reported Wednesday. But employers hired 5.81 million workers, down from 5.89 million in September.
The American job market has been slowly healing since it collapsed in the spring when the coronavirus pandemic struck the United States hard. Employers slashed 22 million jobs in March and April, then began recalling furloughed employees back to work. But the job rebound has been slowing and is threatened by a resurgence of COVID-19 cases.
The likelihood that distribution of one or more coronavirus vaccines could begin in the U.S. in coming weeks has kept investors in a buying mood, boosting optimism about an economic recovery next year.
As the U.K. became the first Western country to start a mass vaccination program, U.S. health regulators issued a positive initial review of a COVID-19 vaccine developed by U.S. drugmaker Pfizer and Germany’s BioNTech. The Food and Drug Administration will meet Thursday to determine whether to green-light the distribution of that vaccine. Wide distribution of the shot is likely months away.