Monday, March 30, 2009
Tweet[IWS] Conference Board: ONLINE JOB DEMAND DOWN 100,000 in MARCH [30 March 2009]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Conference Board
Press Release
Help-Wanted OnLine Data Series
March 30, 2009
The Conference Board Reports Online Job Demand Down 100,000 in March
http://www.conference-board.org/economics/helpwantedOnline.cfm
or
http://www.conference-board.org/pdf_free/champions.pdf
[full-text, 17 pages]
Includes CHARTS & TABLES.....
[excerpt]
* Job demand drops 100,000 in March after dipping only 6,600 in February
* February and March losses slow significantly from the sharp 1 million loss in December and January
* Historical data for May 2005 through July 2007 have been revised (see page 5 of pdf)
* Outlook: March's numbers are evidence that the downturn in the labor market has not reversed yet
Online advertised vacancies dropped 100,000 to 3,248,000 in March, according to The Conference Board Help-Wanted Online Data Series (HWOL) released today. The March loss follows sharp drops of 507,000 in December and 506,000 in January and a very modest dip of 6,600 in February. This has resulted in a decline of over 1,120,000 advertised vacancies, or over 25 percent, in the last four months.
"The March numbers indicate that we are not at the bottom of the employment cycle but that the declines in labor demand may be slowing," said Gad Levanon, Senior Economist at The Conference Board. "The March decline is significant but substantially less than the 500,000 monthly drops we were seeing in December and January. When the Federal employment numbers are released this Friday, we still expect a very large drop and last month's gap of 9 million between labor demand (HWOL) and supply (Unemployment) will widen further." (Chart 1 on pdf).
"The next two months, April and May, are when employers typically ratchet up their spring hiring, and these months will be a good indication of whether labor demand is beginning to turn around," Levanon noted. In March, there were slightly over 2 advertised vacancies for every 100 people in the labor force compared to slightly over 3 vacancies per 100 in March 2008. (Table 2 on pdf)
AND MUCH MORE.....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Conference Board
Press Release
Help-Wanted OnLine Data Series
March 30, 2009
The Conference Board Reports Online Job Demand Down 100,000 in March
http://www.conference-board.org/economics/helpwantedOnline.cfm
or
http://www.conference-board.org/pdf_free/champions.pdf
[full-text, 17 pages]
Includes CHARTS & TABLES.....
[excerpt]
* Job demand drops 100,000 in March after dipping only 6,600 in February
* February and March losses slow significantly from the sharp 1 million loss in December and January
* Historical data for May 2005 through July 2007 have been revised (see page 5 of pdf)
* Outlook: March's numbers are evidence that the downturn in the labor market has not reversed yet
Online advertised vacancies dropped 100,000 to 3,248,000 in March, according to The Conference Board Help-Wanted Online Data Series (HWOL) released today. The March loss follows sharp drops of 507,000 in December and 506,000 in January and a very modest dip of 6,600 in February. This has resulted in a decline of over 1,120,000 advertised vacancies, or over 25 percent, in the last four months.
"The March numbers indicate that we are not at the bottom of the employment cycle but that the declines in labor demand may be slowing," said Gad Levanon, Senior Economist at The Conference Board. "The March decline is significant but substantially less than the 500,000 monthly drops we were seeing in December and January. When the Federal employment numbers are released this Friday, we still expect a very large drop and last month's gap of 9 million between labor demand (HWOL) and supply (Unemployment) will widen further." (Chart 1 on pdf).
"The next two months, April and May, are when employers typically ratchet up their spring hiring, and these months will be a good indication of whether labor demand is beginning to turn around," Levanon noted. In March, there were slightly over 2 advertised vacancies for every 100 people in the labor force compared to slightly over 3 vacancies per 100 in March 2008. (Table 2 on pdf)
AND MUCH MORE.....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 11:32 AM
