WASHINGTON (AP) — U.S. employers advertised the most job openings in nearly five years in February, but they boosted hiring at a much slower pace. The figures suggest that companies remain too cautious about the economy to quickly fill open jobs.
The number of openings rose 8.7 percent in February from January to a seasonally adjusted 3.93 million, the Labor Department said Tuesday. That was the most since May 2008.
At the same time, companies hired a seasonally adjusted 4.4 million people, just 2.8 percent more than in January. And hiring remains lower than it was a year ago, when it reached 4.49 million.
Economists point to several likely reasons for the disparity between a surge in job openings but only a modest rise in hiring. Many unemployed workers may lack the skills employers want. Some companies may not be offering enough pay.
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