About 3,864,100 online job postings appeared on leading Internet job boards in July, a decline of 330,800, or 7.9%, from June’s revised level of 4,194,900, the Conference Board reported yesterday.
In July, there were 2.5 online job ads per 100 persons in the U.S. labor force. Of the 3,864,100 unduplicated ads in July, 2,708,000 were new. On a year-over-year basis, online job ads decreased 5.4%, while new ads rose 3.8%.
“July is typically a slow month in terms of labor demand, but this month advertised vacancies were weaker than we would expect,” according to Gad Levanon, economist with the Conference Board. “There is little evidence of any approaching turning point in labor demand. Changes in the volume of job advertising typically lead employment trends, and considering the declines in advertised vacancies for all of 2008, the outlook for the labor market remains gloomy — exactly the sentiment weighing on consumer attitudes.”