Employers Hiring at a Cautious Pace

Ed Lynch Tuesday, April 9, 2013

February saw the most job openings in almost five years, but employers are hiring at a much slower pace. This information suggests that companies are being very cautious about the economy.

Job openings rose 8.7 percent in February from January. This raised the total to a seasonally adjusted 3.93 million, which is the most since May 2008, said the Labor Department. In February, companies hired a seasonally adjusted 4.4 million people. This is just 2.8 percent more than in January, which leaves the hiring total lower than it was just a year ago, when it reached 4.49 million.

Economists attribute the disparity between the increase in job openings and hiring to two reasons. One is that many unemployed workers may not have the skills that employers are looking for and the second is that companies may simply not be offering enough in pay. Other professionals attribute the disparity to the idea that employers may be slower to fill jobs until they find the “perfect” candidates.

The March numbers show a sharp decline in hiring, even with the increased job openings. Employers only added approximately 88,000 jobs last month. That was the fewest jobs added in nine months and is nearly half of what was offered over the previous six months averages.

Until employers begin hiring more quickly, the ratio between unemployed to openings may continue to show that the job market is healthy when it is really not.

Edwardl@longislandyellowpages.com

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