Online Job Demand Dips in February

March 2, 2010 – Online advertised vacancies slipped 66,900 to 3,957,000 in February, according to The Conference Board Help Wanted OnLine Data Series (HWOL). The February dip follows a large increase of almost 750,000 in the previous three-month period. Recent declines in the number of unemployed (labor supply) coupled with the rise in the number of advertised vacancies (labor demand) has narrowed the gap between labor supply and labor demand by 1,500,000, and in January, the latest month of unemployment numbers, there were 10.8 million or 3.69 unemployed for every online advertised vacancy. “Although labor demand dipped slightly, the large gains in the last few months have provided a positive sign of a turnaround in employer labor demand,” said June Shelp, vice president at The Conference Board. “Currently, labor demand, as measured by online job postings, is close to the levels in November 2008, just prior to the huge losses from the financial crisis. The numbers indicate that the economy is recovering from the recession and companies are filling vacant positions, but it is still unclear if employers are willing to significantly expand their workforce.”