The weather is hot, the labor market is not. Employers around the country posted 3.0% fewer job openings in June as compared to May. So far this year, demand for workers is below the same period of last year. Labor demand depends on consumption which has not returned domestically nor internationally. In addition, employers now can do more with a smaller workforce thanks to information technology. Growth has to come from new products and services driven by innovation which requires higher skills in specialized areas like manufacturing, technology and health care.
Job postings in June were on the same trajectory as year ago. The summer decline is more pronounced than last year. These conditions indicate that employers continue to wait for better times before they will expand.
Note: A weekly update on the United States Job Openings (Online Postings) is available on this blog 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).