US hiring reaches 9-year high; job openings slip
WASHINGTON — U.S. hiring jumped to a nine-year high in February, a sign of robust business demand for new workers, while the number of open positions slipped.
The Labor Department reported Tuesday that 5.4 million people found jobs, a 5.8 percent jump from January and the most since November 2006. More Americans also quit their jobs. Both figures point to a healthier, more dynamic labor market.
Businesses have been reluctant to accelerate hiring for much of the nearly seven year old recovery. But the raw hiring numbers have now returned to pre-recession levels. That suggests businesses are more confident about the economy’s future.
Tuesday’s figures track total hiring. The monthly jobs report released last week calculates a net total of job gains after subtracting those who quit, retired or were laid off.
The latest jobs report showed that employers added a solid 215,000 positions in March, while the unemployment rate rose to 5 percent from 4.9 percent. Yet the increase in the rate occurred mostly for positive reasons: More Americans began hunting for jobs, though not all were immediately hired. That pushed up the number of unemployed, despite the job gain.
