Economists say there are almost 2 million fewer job openings now in the U.S. than there were in December 2007, when the current recession began. Combined with continuing job losses across the country, it means that competition continues to increase for available positions.

An analysis today by the Economic Policy Institute (see chart at right), a nonpartisan think tank in Washington, D.C., reports there are now more than five job-seekers for every available job, compared to fewer than two when the economic tumble started.

The math is discouraging. Information from the federal Bureau of Labor Statistics show there were about 2.5 million job openings at the end of April, compared to 13.7 million people looking for work -- a ratio in which people outnumber jobs by 5.4-to-1.

EPI economist Heidi Shierholz reports: "At the start of the recession, an unemployed worker had a much better chance of finding a job, with only 1.7 job seekers per job opening, but the line of applicants waiting for each job is now three times longer."

Much was made in the news last week of the fact that fewer new claims for unemployment benefits are being filed -- a hint that even as unemployment rose to 9.4% nationwide, the rate at which jobs are being lost may be slowing down.

But until the unemployment rate actually reverses, it's still way too soon to be lulled into a sense of security that all is well.