WASHINGTON (April 9, 2013)--Employers advertised the most job openings in nearly five years in February, but overall hiring rose at a much slower pace, which suggests suggest companies are too cautious about the economy to fill open jobs quickly.
The U.S. Labor Department said Tuesday that the number of available jobs rose 8.7 percent in February from January to a seasonally adjusted 3.93 million, the highest since May 2008.
At the same time, companies hired a seasonally adjusted 4.4 million people, which is just 2.8 percent higher than January.
And hiring remains lower than it was a year ago, when it reached 4.49 million.
Economists say there are several likely reasons for the disparity.
Unemployed workers may lack the skills employers seek or companies may not be offering enough pay.