U.S. companies are gradually ratcheting up their search for workers, a new Labor Department survey showed, which some economists see as a signal that the steep decline in the job market could be nearing an end.

The Job Openings and Labor Turnover Survey by the Department of Labor (DOL) found that the number of job openings in the U.S. increased slightly in both August and September, the first two-month rise since early 2007. Hotels, restaurants, education and health care made the largest contributions. Even such hard-hit sectors as manufacturing saw a rise.

. . . The uptick in openings -- which include newly created or just vacated positions -- comes as other indicators have offered conflicting signals on the direction of what has been the worst job market in decades. Last week, the government reported that the unemployment rate hit 10.2 percent in October, and economists believe the rate will remain above prerecession levels through 2019. At the same time, nonfarm payrolls shrank less than in previous months, suggesting the situation is worsening at a slower rate.

Separate reports on small business and extended layoffs this week provided more clues that stabilization could be on the way. The National Federation of Independent Business reported that small-business sentiment improved slightly in October. Over the next three months, 16 percent said they plan to reduce employment, unchanged from the previous month's survey, and 9 percent said they plan to add workers, up two percentage points from last month.

Economists found reason for optimism in the details of [the DOL] report on job openings. The rate of new hires as a percentage of all employment stayed steady at 3.1 percent for the second month in a row, suggesting openings are turning into actual employment. Perhaps more important, companies in sectors that tend to move in sync with the broader economy -- such as manufacturing and professional services -- added to their job openings for two straight months.

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