Job openings in the U.S. climbed to a five-year high in October - PUNJI NIVESH ENTRADE P. LTD.9322932261

Job openings in the U.S. climbed to a five-year high in October, indicating employers were confident about demand even as Washington’s budget impasse shuttered parts of the federal government.

The number of positions waiting to be filled rose by 42,000 to 3.925 million, the highest since May 2008, from a revised 3.883 million in September, the Labor Department reported today in Washington. The pace of hiring decreased.

Gains in the job market could drive wage growth and boost consumer spending, which accounts for almost 70 percent of the economy. Employers added 188,600 workers on average from January through November, up from an average of about 179,500 in the same period last year.

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