Confidence among U.S. small companies rose in February to the highest level in three years as hiring and sales expectations increased, Bloomberg reported.

The National Federation of Independent Business optimism index climbed to 94.5, the highest since the recession began in December 2007. The reading compares with the average of 100.7 that occurred during the previous expansion, which started in 2001.

Hiring plans rose to the second-highest level since September 2008, though earnings expectations remained negative and fewer businesses said it was a good time to expand.

“The future is looking brighter for a few more small business owners,” William Dunkelberg, the group’s chief economist, said in a statement. However, he said, “this is not a reading that characterizes a strongly rebounding economy.”

Figures on employment turned more optimistic. Small businesses with plans to add to payrolls rose 2 points to 5 percent, and 15 percent of firms in the survey said they were having trouble filling job openings.