Labor Markets Also Measured by Online Job Postings
By: Matt, March 24th, 2006
Of the myriad economic indicators utilized by economists to determine the condition of the U.S. economy, online job postings have risen to the ranks of legitimacy, as the Conference Board includes among its survey the percentage increase or decrease in online job postings each month.
In February, 2006, for example, there were 1.99 million new online job postings, a drop of 175,000 from January and an 8.1% decrease. January, on the other hand, had seen a large increase from December, 2005. Meanwhile, the numbers for the first two months of 2006 are roughly in line with those posted from the late summer of 2005. The Conference Board further reports that there were 1.33 online job ads per 100 individuals in the U.S. labor force for February, while there were 1.44 in January.
Clearly online job postings are an important indicator, as the most recent data have led Conference Board economist Ken Goldstein to note that “the labor market picture remains a bit cloudy”.
Meanwhile, however, a more traditional indicator, the unemployment rate, showed drops in most regions around the country. Unemployment rates were lower in 336 of 367 metropolitan areas that are studied, higher in 26 areas and remained unchanged in five areas, according to the U.S. Bureau of Labor Statistics.
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