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Online Job Demand Down 83,200 in October, The Conference Board Reports
November 10, 2009
The prospects of those your company "let go" over the last month weren't the best if they were looking for a job online, as those in the modern world seem to do these days.
According to The Conference Board, online job demand was down by 83,200 in October. September and October dips in job demand point to continued weakness in the labor market, The Conference Board speculates.
Online advertised vacancies declined by 83,200 to 3,280,000 in October, according to The Conference Board Help-Wanted OnLine Data Series (HWOL) released last week. Online labor demand has been relatively flat since the low point in April 2009, increasing a modest 117,000, or slightly less than 20,000/month.
"The September and October numbers are a further indication that, thus far, the recovery is weak," says Gad Levanon, senior economist at The Conference Board. "Labor demand is a leading indicator of employment, and the numbers indicate employment is not likely to rise for the rest of this year."
While there are fewer layoffs, and some states, such as Maryland and New York, have a modestly upward trend, overall the labor market remains "anemic," as The Conference Board described it.
"The gap between the number of unemployed and the number of advertised vacancies is about 11.8 million," says Levanon, "with 4.5 unemployed for every online advertised vacancy."
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