Labor demand dipped slightly in August as employers posted 0.2% fewer job opportunities compared to July. Now heading into the fall hiring season labor demand may increase again depending on how confident employers are about their economic future. We do not expect a boost in the coming months since significant uncertainties (presidential election, “fiscal cliff”, Europe’s debt struggles) influence the national economic mood.
Consumer confidence, “the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation” dropped to 60.6 in August from 65.4 in July. This was reported by the Conference Board. Low consumer confidence indicates less willingness to go out and shop beyond necessities which can negatively impact production and the need for labor.
United States Job Openings (Online Postings) and Unemployment Rate
January 2007 – August 2012
Labor demand turned a corner in August (see Weekly chart below). After dipping during the first two weeks employers consistently posted more openings during the following three. This indicates some increased optimism among employers. Whether this translates into more hiring remains to be seen.
United States Job Openings (Online Postings)
Note: A weekly update on the United States Job Openings (Online Postings) is available every Tuesday.
Legend for week-over-week change of labor demand:
|slow||0.1% – 0.5%|
|moderate||0.6% – 1.5%|
Methodology: SkillPROOF surveys the inventories of job openings at direct employers. Job openings are counted and verified every 24 hours. All data sources have been verified for timely removal of filled or closed positions. No data from job boards or search firms is included.
For this report SkillPROOF estimates the counts of job openings. Estimates are calculated directly from SkillPROOF’s actual daily counts of job openings. As part of its calculations, SkillPROOF uses data and findings from reports of the Bureau of Labor Statistics (BLS) (http://www.bls.gov).