US businesses post more open jobs; quits rise to 9-year high

WASHINGTON (AP) — U.S. companies advertised more available jobs in December and more Americans quit, trends that could lift wages in the coming months.

The number of job openings jumped 4.9 percent to 5.6 million, the most since July, the Labor Department said today. And quits increased 6.9 percent to nearly 3.1 million, the highest in more than nine years.

People typically quit for better-paying positions, so more quits are a sign that overall pay levels could increase. Employers have also struggled to fill many open jobs, which could push them to offer higher pay to attract workers.

The data comes after the government said last week that hiring had slowed sharply in January. Yet wages grew at a solid pace, and the unemployment rate fell to an eight-year low of 4.9 percent.

Federal Reserve chairwoman Janet Yellen has said that she monitors quits as a potential sign of an improving job market. More Americans quit when they either have new jobs or are confident they can find one.