Job openings increased in July

Job openings rose slightly in July at a 2.3 percent pace, a positive sign for job seekers as employers look to expand as the economy slowly recovers. 

Openings increased by 178,000 to 3.04 million in July, while the hiring rate was steady but unchanged at 3.3 percent, according to the Labor Department's Job Openings and Labor Turnover survey, released Wednesday.

Although the month-to-month change is small, the number of job openings has risen by 704,000, or 30 percent, since the recent trough in July 2009. 

There were 4.2 million hires in July, 10 percent higher than the most recent low in June 2009. 

That number is still below the 4.4 million to upwards of 5 million being hired when the recession began in December 2007, the report said. 

Turnover, which includes layoffs, voluntary separations and retirements, was unchanged from June to July. 

Today's survey follows a slight increase in the unemployment rate, from 9.5 to 9.6 percent in August after holding steady for the previous two months.

The government's employment report last week showed that the private sector added 67,000 jobs in August, following an upwardly revised 107,000 gain in July.

A lack of job creation is putting a strain on consumer spending and the gradual economic recovery. 

Overall, there are nearly five people competing for every job opening now, compared with about two people when the recession began nearly three years ago.