U.S. employers posted 3.3 million jobs in October, down from 3.4 million in September; October's level was second-highest in past three years: U.S. Dept. of Labor

Cindy Allen

WASHINGTON , December 13, 2011 (Associated Press) – U.S. employers advertised slightly fewer jobs in October, a modest decline from a three-year high hit in the previous month.

The Labor Department says companies and governments posted 3.3 million jobs that month, down from 3.4 million in September. October's level was the second highest in the past three years.

Even so, there is heavy competition for each job. Nearly 14 million people were unemployed in October, which means there was an average of 4.25 people out of work for each available opening. That's worse than September's ratio of 4.14.

Nationwide, the job market improved in November. The unemployment rate fell to 8.6 percent from 9 percent, and employers added a net gain of 120,000 jobs.

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