ADVANTAGE, EMPLOYERS: Companies ramping up hiring this year will have the luxury of choosing from a flood of applicants. There are nearly 5 jobseekers, on average, for each job opening, according to a Labor Department report Tuesday.
MORE HIRING, MORE CHOICES: Economists forecast that hiring this year is likely to be at double last year's pace. Employers who are adding workers say they are finding more than enough qualified applicants.
WEIGH ON PAY: That means companies face little pressure to offer better pay or benefits, economists say. Average compensation has barely kept ahead of inflation in the past year.
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