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Job Vacancy Rates 2008
January Job Vacancy Data Points Towards More Labor Market Slowing, The Conference Board Reports
January growth rate of online advertised vacancies was 7 percent, one of the smallest annual increases since this series began in May 2005
Online ads in the second week of January rebounded to pre-holiday levels but not enough to completely offset seasonal declines during the holidays
USA - In January there were 3,362,500 online advertised vacancies, a largely seasonal decline of 5 percent from December, according to The Conference Board Help-Wanted OnLine Data Series™ released today. Over the year, online advertised vacancies were up 7 percent for the nation as a whole. There were 2.2 advertised vacancies online for every 100 persons in the labor force in January.
“Job seekers may have to pound the pavement a bit harder to find the right job,” said Gad Levanon, Economist at The Conference Board. “These data suggest that the slow pace of labor demand will continue in the months ahead and may even slow further.” The monthly decline in January from the December level was in line with the seasonal dip expected during the holiday season. But the real story is the slow 7 percent increase, January’07-January’08, which follows a 6 percent increase in December which was the smallest annual increase since this series began in May 2005.
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