More job postings a good sign

It's not an official indicator, but a jump in online employment ads bodes well for 2011.

By Kim Peterson Dec 27, 2010 3:44PM
Blue-collar job © image100/CorbisJob postings dropped to depressing levels a year ago as the economy foundered. But that has changed dramatically this month.

Major U.S. companies are advertising thousands of job openings, The Wall Street Journal reports. New data from the Indeed website shows that there were 4.7 million job postings online as of Dec. 1 -- up from 2.7 million a year ago.

The number of job postings isn't a very scientific view of the economic recovery. Many openings don't get posted online at all, and official payroll data haven't signaled a hiring rebound, the Journal reports.

Still, the sheer increase in the number of postings out there is a good sign. Economists think job growth in 2011 will be enough to cut the unemployment rate to 9% a year from now. Post continues after video:
So who's hiring? The Journal notes that PricewaterhouseCoopers, an accounting and consulting company, has hired 2,500 people since June 30. That's about four times more than it hired during the same period in 2009.

AT&T (T) is looking for technical people to work in its network engineering and cloud computing departments as well as at its retail stores. WellPoint (WLP) is looking for technical folks, as well as nurses, actuaries and salespeople.

The job-posting data come as new unemployment claims dropped by 3,000 last week to 420,000. That indicates a slight slowing of job losses, the Journal reports.

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