Marketing

Continued Weakness in Online Advertised Job Vacancies in June, Says the Conference Board

  2008 JUL 14 - (VerticalNews.com) -- In June 2008, there were 3,800,600 online advertised job vacancies, virtually unchanged from May, and 480,000 or 11.2 percent below the June 2007 level, according to The Conference Board Help-Wanted OnLine Data Series(TM) (HWOL) released. This is the fourth consecutive month of year-over-year declines for the nation as a whole. In June, there were 2.5 advertised vacancies posted online for every 100 persons in the labor force, down from a high of 2.9 in May 2007.

  "Employment declines are likely to continue through the summer," said Gad Levanon, Senior Economist at The Conference Board. "Spring is typically a time of seasonal increases in labor demand, but not this year. The number of online job ads held steady in June, but considering the declines in advertised vacancies for all of 2008, there is little evidence of any rise in labor demand. The volume of job advertising typically leads the employment numbers, and if there is any good news, it is that job losses are not likely to intensify in the months ahead. But I do not think we have reached the bottom."

  THE NATIONAL - REGIONAL PICTURE

  2,752,900 new online ads posted in June.

  All nine Census Regions post over-the-year declines in labor demand.

  In June, 2,752,900 of the 3,800,600 unduplicated online advertised vacancies were new ads that did not appear in May, while the rest are reposted ads from the previous month. In June, a month expected to show a seasonal increase in labor demand, the number of total online advertised vacancies was virtually unchanged (up 5,200 or 0.1 percent) while new ads rose by 9,200 or 0.3 percent from May. However, the delicate labor market is clear in the June year-over-year numbers for labor demand where total ads fell 11.2 percent and new ads rose slightly by 0.3 percent.

  The monthly national increase in advertised vacancies between May and June '08 reflected marginal increases in ads in four of the nine Census regions (New England, East South Central, West South Central and Pacific). However, online advertised vacancies in all nine Census regions were below last year's June levels.

  Keywords: The Conference Board.

  This article was prepared by VerticalNews Marketing editors from staff and other reports. Copyright 2008, VerticalNews Marketing via VerticalNews.com.