Wednesday, March 30, 2011

Online Labor Demand Now Above December 2007 Levels; First Quarter Layoffs Fall to 16-Year Low

The Conference Board reported today that online advertised vacancies rose in March to 4,454,500, which is the highest number of job openings since May 2007, almost four years ago.  The March increase of 208,800 online jobs advertised follows a 437,600 increase in January, and brings the total increase in online job openings in the first quarter of 2011 to 619,000. 

The 2,725,900 new online job vacancies in March is the highest level since April 2007 for that series, and marks the first time since the recession started in December 2007 that both total ads and new ads are above their pre-recession levels.  

In some other positive labor market news today, Challenger, Gray and Christmas reported today that U.S. employers have announced 130,749 job cuts in the first quarter of 2011, which is 28% fewer than the same period of 2010, and the lowest first quarter total for job layoffs since 1995. 

If these two positive reports are good indications of  improving labor market conditions, we can expect a fairly positive BLS employment report this Friday. 


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