Jobs up as hiring demand picks up 250,000 in May
Online advertised vacancies rose 250,000 to 3,367,000 in May, according to The Conference Board Help-Wanted Online Data Series (HWOL)&trade released today. The May gain was the first since the modest gain of 21,000 in October 2008, and the largest since October 2006. Even with this month&rsquos increase, onlineadvertised vacancies remained down 1,152,000, or 25 percent, since last year. &ldquoThe May bounce in labor demand is a very welcome sign,&rdquo said Gad Levanon, Senior Economist at The ConferenceBoard. &ldquoApril and May are both months when businesses typically step up their demand for workers. This year, whileApril was weak, by May employers were placing ads for workers in numerous locations across the nation. Over thelast four months, there are now about a half dozen states where the drop in labor demand shows signs of leveling offand another handful of states show some very moderate increases. Labor demand typically leads the trend in both employment and unemployment, so positive signals on labor demand are always important. Even with the currentpositive signs, the likely outlook is for unemployment to continue to rise and employment to fall at more modestlevels throughout the summer. In April (the latest unemployment data until the May numbers are released thisFriday), there were 10.6 million more unemployed workers than advertised vacancies.&rdquo