* The decline in October is partly seasonal
* Online advertised vacancies are up 8.6% over the year * New England and Pacific regions post no over the year gains in advertised
vacancies * Healthcare professional and technical workers remain in high demand
NEW YORK, Oct. 31 /PRNewswire/ -- In October there were 4,161,700 online advertised vacancies, a decrease of 108,300 or -2.5% percent from the September level, according to The Conference Board Help-Wanted OnLine Data Series(TM) (HWOL) released today. Nationally online advertised vacancies were up (8.6%) over the year (October '06-October '07). There were 2.71 advertised vacancies online for every 100 persons in the labor force in October.
"The year on year growth rate of online advertised vacancies, while still positive, has slowed in recent months, and the 8.6% increase (October '06- October '07) is the smallest since this series began in May 2005," said Gad Levanon, Economist at The Conference Board. "These data suggest that the slow pace in the labor market will continue in the months ahead and is likely to extend into the early months of 2008. We are getting the same signal from The Conference Board Consumer Confidence survey released yesterday, which showed further weakness in the labor market and the U.S. economy as a whole."
THE NATIONAL - REGIONAL PICTURE
In October, 2,875,300 of the 4,161,700 unduplicated online advertised vacancies were new ads that did not appear in September, while the remainder are reposted ads from the previous month. The 2.5 percent decrease in total ads was caused primarily by a 2 percent decrease in new ads. Despite these declines, over-the-year (October '06 - October '07) total ads and new ads rose 8.6 percent and 13.8 percent, respectively.
The national decline in advertised vacancies between September and October '07 reflected a lower volume of ads in eight of the nine Census regions (ad volume was virtually unchanged in the Middle Atlantic region). Over-the-year (October '06 - October '07), seven of the nine regions continued to show a gain in labor demand. The Mountain region once again had the highest ad rate (3.74), as four of the region's states (Arizona, Colorado, Nevada and Montana) are among the top 10 states with the highest ads rate. The central regions of the country experienced the largest over the year gains with the West South Central region leading (up 29%), followed by the East North Central region (up 19%). Despite the over-the-year gains, the growth rate in most regions slowed down in recent months. The New England region, which, despite having the second highest ads rates (3.64 ads per 100 persons in the regional labor force), declined 6% in the last 12 months. The Pacific region, which had an ads rate of 3.45, also dipped 2.4% from last year's level.
The October figures reported in the Help-Wanted OnLine Data Series(TM) reflect the sum of the number of unduplicated online job ads for each day from mid-September to mid-October. This new series, which includes data from April 2005, does not have sufficient history to allow for seasonally adjusted monthly data.
-- Alaska posts the highest ads rate in the country in October.
-- Montana leads the nation with the lowest supply/demand rate for the
fifth month in a row.
Alaska posted 4.66 vacancies for every 100 persons in the state labor force, the highest rate in the nation, for the second month in a row. Nevada (4.51) and Colorado (4.35) were close behind in the number of advertised vacancies when adjusted for the size of the state labor force. Other states in the top five included Delaware (4.30) and Montana (4.30).
Online advertised vacancies in California, the state with the largest labor force in the nation, totaled 628,500 in October. The volume of online advertised vacancies in California was significantly above the next highest states, Texas (364,600), New York (290,300) and Florida (244,100).
"Although one cannot infer that the occupation or geographic location of unemployed persons matches the occupation or geographic location of the vacancies, looking at the number of unemployed in relation to the number of advertised vacancies provides an indication of available job opportunities for the unemployed," said Levanon. Using the latest unemployment data available from the Federal Bureau of Labor Statistics (BLS) and computing the supply/demand ratio (unemployed/advertised vacancies), the states with the most favorable (e.g., lowest) supply/demand rates included Montana (0.50), Idaho (0.55), Wyoming (0.61), and Delaware (0.68). There were 14 states where the supply/demand rate was less than 1.0, indicating that the number of unemployed workers was fewer than the number of online job ads. For the nation as a whole, the comparable supply/demand rate for October was 1.63 indicating that the number of unemployed persons exceeded the number of online advertised vacancies.
States where the number of unemployed persons looking for work significantly exceeded the number of online advertised demand included Mississippi (4.71) and Michigan (4.02), Kentucky (3.30) and Arkansas (3.00).
-- Over 317,000 ads posted for healthcare practitioners and technical
occupations in October.
-- Management and Business/Financial occupations account for more than 30%
of online ads in New York and Illinois.
"Many jobs in high demand are also, on average, among the highest paying occupations," said Levanon. Healthcare practitioners and technical workers (317,000) and management positions (285,600) continue to be top occupations with a significant number of ads posted online. According to the latest federal hourly wage data, wages average above $44 an hour for management positions and about $30 an hour for healthcare practitioners and technicians. Also in high demand are office and administrative support (255,900), business and financial occupations (246,800), and computer and mathematical (240,900) occupations.
AUSTIN, TX METRO AREA LEADS AGAIN
-- Austin ranks first with 6.40 ads per 100 persons in the labor force.
-- Salt Lake City has the lowest supply/demand ratio in the nation.
The top metro areas in October with around six advertised vacancies per 100 persons in the local labor force included Austin (6.40) and San Jose (6.13) and Milwaukee (5.75). The number of unemployed persons looking for work was fewer than the number of advertised vacancies in 14 of the 52 metro areas for which data are reported separately. Cities across the nation where the number of advertised vacancies are plentiful in relation to the number of unemployed included Salt Lake City, Washington, D.C., Austin, Phoenix, Denver and San Francisco.
Two of the nation's largest metropolitan areas, New York and Los Angeles, were first and second in the absolute volume of advertised job vacancies in October, with 300,300 and 226,300, respectively.
Note: The Help Wanted Online Data Series(TM) is a new developmental program with research and evaluation studies ongoing in a number of areas. The comparisons in the attached tables between total ads and total unemployed at the various geographic levels are overall counts and it cannot be inferred that the detailed occupation or geographic location of the unemployed matches the occupation or geographic location of the vacancy. Additionally, there may be differences in the way the unemployed person describes his occupation versus the way an employer may describe the same job. The Conference Board welcomes interested user feedback on this important new data set but also urges users to exercise caution in the analysis and interpretation of the data.
The Conference Board Help-Wanted Online Data Series(TM) measures the number of new, first-time online jobs and jobs reposted from the previous month on more than 1,200 major Internet job boards and smaller job boards that serve niche markets and smaller geographic areas.
Like The Conference Board's long running Help-Wanted Advertising Index of print ads (which has been published since 1951), the new online series is not a direct measure of job vacancies. The level of ads in both print and online may change for reasons not related to overall job demand.
The Conference Board, as a standard practice with new data series, considers the estimates in The Conference Board Help-Wanted OnLine Data Series(TM) to be developmental. As a not-for-profit business research organization, The Conference Board is publishing the early years of this series for use by the media, analysts, researchers and the business community. Persons using this data are urged to review the information on the database and methodology available on our website and contact the economists listed at the top of this release with questions and comments.
Background information and technical notes on this new series are available at: http://www.conference-board.org/economics/helpwantedOnline.cfm. The underlying data for this series is provided by Wanted Technologies Corporation. CareerBuilder.com provides financial support for the series.
Additional information on the Bureau of Labor Statistics data used in this release can be found on the BLS website, http://www.bls.gov.
The Conference Board
Non-partisan and not-for-profit, The Conference Board is the world's leading business membership and research organization. The Conference Board produces The Consumer Confidence Index and the Leading Economic Indicators for the U.S. and other major nations. These barometers can have a major impact on the financial markets. The Conference Board also produces a wide range of authoritative reports on corporate governance and ethics, human resources and diversity, executive compensation and corporate citizenship. Our conference and council programs bring together more than 10,000 senior executives each year to share insights and learn from each other. Visit The Conference Board's award-winning website at http://www.conference-board.org.
CareerBuilder.com is the nation's largest online job site with more than 20 million unique visitors and over 1 million jobs. The company offers a vast online and print network to help job seekers connect with employers. CareerBuilder.com powers the career centers for more than 550 partners that include 165 newspapers and leading portals such as MSN and America Online. For more information about CareerBuilder.com products and services, visit http://www.careerbuilder.com.
WANTED Technologies Corporation
WANTED is a leading supplier of real-time sales and business intelligence solutions for the media classified and recruitment industries. Using its proprietary On-Demand data mining, lead generation and CRM (Customer Relationship Management) integrated technologies, WANTED aggregates real-time data from thousands of online job boards, real estate and newspaper sites, as well as corporate Web sites on a daily basis.
WANTED's data is used to optimize sales and to implement marketing strategies within the classified ad departments of major media organizations, as well as by staffing firms, advertising agencies and human resources specialists. For more information, please visit: http://www.wantedtech.com.
|SOURCE The Conference Board|
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