NEW YORK — Online advertised vacancies rose 139,200 in July to 4,293,300 following a very small increase in June, according to The Conference Board Help Wanted OnLine (HWOL) Data Series released today.
The gap between the number of unemployed and advertised vacancies (supply/demand rate) stood at 3.52 unemployed for every advertised vacancy in June (the last available unemployment data) but is down from its peak of 4.73 in October 2009.
“After rising sharply in December and January, online job demand for the nation as a whole has settled into a more modest pattern over the last six months, with increases that have averaged about 43,000 per month,” said June Shelp, vice president at The Conference Board. “The gains in job demand vary across the country with some East Coast states — New York, New Jersey, Pennsylvania, Virginia, Delaware and Maryland — posting steady and strong upward trends throughout this year. Steady but more modest improvement better characterizes online job demand in other states like Washington, Ohio, Oregon and Texas.”
In the West, labor demand increased by 56,600, bolstered by a rise of 34,800 in California, the region’s most populous state. California experienced a spurt in labor demand in both computing and mathematical, and office or administrative support positions. Colorado and Arizona experienced increases of 9,100 and 7,900 respectively after experiencing declines in the previous two months. Colorado’s level is at its highest since November 2008. Washington state fell 2,400.
Among the smaller states, Hawaii rose 3,300, Alaska gained 2,300, Oregon increased by 1,200, and New Mexico rose 700 while Nevada dropped 2,100. The Midwest rose this month by 42,800. After a combined loss of 12,000 in May and June, Illinois experienced the largest gain in the region (16,800) and reached its highest level since August 2008. Illinois’ gain was largely due to a rise in ads for management positions. Michigan gained 8,300 after a 2-month loss of 5,000 and reached its all-time highest level, and Minnesota rose 7,300 to its highest level since November 2008. Missouri increased by 6,300 after losing 8,900 in the previous 2 months. After gains in June, Wisconsin and Ohio dropped 5,000 and 1,600 respectively.
Among the states with smaller populations, Indiana gained 2,000 while North Dakota gained 1,000.
Online advertised vacancies in the South rose in July by 30,000, reflecting gains in four out of the six large States. With an increase in management positions, Florida led the way with a gain of 7,600. Georgia rose 7,200 after a 9,800 decline in the previous 2 months. North Carolina rose 5,600 and reached its highest level since the HWOL series began in 2005. Maryland rose 5,300 to its highest level since November 2008. Virginia and Texas lost 7,500 and 5,200 respectively.
Among the less populous states in the South, advertised vacancies in Louisiana increased by 4,700, Oklahoma increased by 2,200, and Kentucky increased by 700. The Northeast region grew at a slower pace this month; it gained 12,900 online advertised agencies. After a surge in June (23,775), New York rose 6,800 in July to its highest level since March 2008. Massachusetts gained 1,600. New Jersey held constant and remains at its highest level since March 2008 after gaining over 30,000 in the previous 3 months combined. Pennsylvania dropped 6,800 after a 4-month gain of 26,600.
Among the smaller states, after a sluggish period in May and June, Connecticut and Maine gained 4,500 and 1,600 respectively. New Hampshire (1,700), Rhode Island (1,400), and Vermont (1,300) have maintained steady growth for the past 3 months.
The supply/demand rate for the U.S. in June (the latest month for which unemployment numbers are available) was at 3.52, indicating that there are just under 4 unemployed workers for every online advertised vacancy. Nationally, there are almost 10.5 million more unemployed workers than advertised vacancies. States with some of the lowest rates include North Dakota (1.05), South Dakota (1.33), Nebraska (1.54), and Alaska (1.60), where the supply/demand rates reflected the fact that there was just over one unemployed for every online advertised vacancy.
Among the states, the highest supply/demand rates are in Mississippi (7.90) and Michigan (7.15), where there are over 7 unemployed people for every advertised vacancy. Although still among the highest in the nation, Michigan’s S/D rate has improved significantly from the 10.2 in July 2009 when there were just over 10 unemployed for every online advertised vacancy.
Other states where there are over 5 unemployed for every advertised vacancy are Indiana (5.41), California (5.37), and Kentucky (5.21). It should be noted that the Supply/Demand rate only provides a measure of relative tightness of the individual state labor markets and does not suggest that the occupations of the unemployed directly align with the occupations of the advertised vacancies.
SOURCE: The Conference Board press release