WASHINGTON — Companies might be laying off workers at a slower pace, but that doesn't mean more businesses are hiring.

There were 2.7 million jobs available nationwide in March, according to a government report released today, down from 3 million in February and 4 million a year ago. It's also the lowest number in the eight years the Labor Department has tracked job openings.

Other recent reports indicate that while layoffs could be slowing compared with the waves announced earlier this year, hiring hasn't picked up much since the department gathered the job openings data in March.

Without new hiring, the unemployment rate will continue to rise. That's because many people who were discouraged and stopped looking for work at the depths of a recession customarily return to the labor market once a recovery begins. If jobs aren't available, those new job seekers are added to the total of unemployed workers.

The unemployment rate reached 8.9 percent in April, and many economists expect it to reach 10 percent by next year.