Online Labor Demand Drops in May

May 31, 2012 – Online advertised vacancies dipped 45,700 in May to 4,714,800, according to The Conference Board’s Help Wanted OnLine Data Series (HWOL). The supply/demand rate stands at 2.6 unemployed for every vacancy. In May the number of unemployed was 7.7 million above the number of advertised vacancies, compared to 10 million above in the fall of 2011. “After rising 564,000 over the last five months, labor demand dipped in May. Despite this drop, strong employer demand has created growing opportunities for both job-changers and the unemployed and has also helped significantly lower the unemployment rate,” said June Shelp, VP at The Conference Board. In May over half of the 50 States are now posting advertised vacancies that are above their pre-recession highs. The largest gains were in the Midwest with Michigan up 53 percent from its pre-recession high. Other Midwestern States with increases above 40 percent include North Dakota (46 percent), Indiana (44 percent), and Ohio (41 percent).