Online advertised job vacancies in July totaled 4,084,200 - 2.65 vacancies for every 100 persons in the labor force - or some 196,200 less than in June (down 4.6 percent, according to The Conference Board Help-Wanted OnLine Data Series (HWOL).
But online advertised vacancies continue to be up substantially (20 percent) over the year (July '06 - July '07), writes MarketingCharts.
"The monthly decline in July in large part reflects the July 4th holiday week when ad volume dropped," said Gad Levanon, Economist at The Conference Board. "Online job demand is running well above last year's level, indicating that the national labor market continues to hold up."
But The Conference Board Leading Economic Indicators "point to a little loss in momentum over the next few months. With the typical lagged response of the labor market, we may well see a moderation in national employment growth in the second half of the year while some of the hot local markets continue to show high ad rates and low unemployment," Levanon said.
Highlights from The Conference Board HWOL for July:
The National Picture
* Some 2,609,300 or 64 percent of the 4,084,200 unduplicated online advertised vacancies were new ads that did not appear in June, while the remainder were reposted ads from the previous month.
* Both total and new ads declined by 5 percent from the previous month. Over the year (July '06 - July '07) total ads and new ads rose 20 percent and 18 percent, respectively.
* Alaska posted 4.69 vacancies for every 100 persons in the state labor force, the highest rate in the nation, moving up from second place last month.
* Online advertised vacancies in California, the state with the largest labor force in the nation, totaled 662,600.
* 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 (0.62), Idaho (0.70), and Wyoming (0.75).
* States where the number of unemployed persons looking for work significantly exceeded the number of online advertised demand included Mississippi (4.97) and Michigan (4.47), Kentucky (3.41) and Arkansas (3.18).