WASHINGTON (AP) — Businesses in February posted the largest number of job openings in more than two years, evidence that hiring is picking up as the economy grows.
The Labor Department said Wednesday that employers advertised 3.1 million available jobs that month, the most since September 2008. That was the height of the financial crisis, when Lehman Brothers collapsed.
The competition for those jobs is easing, though still intense. The department's report shows that there were 4.4 people, on average, competing for each available job in February. That's down from nearly 7 in July 2009, but still above the approximately 2-to-1 ratio that exists in a healthy economy.
A rise in employment advertisements is the latest sign that companies are stepping up hiring. The private sector in March added more than 200,000 jobs for a second straight month, the first time that's happened since 2006. And the unemployment rate fell to 8.8 percent, the lowest level in two years.
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