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Number of online job ads unchanged

November 04 2008

The number of U.S. jobs posted online in October was essentially unchanged, up by just 20,800, or 0.4%, from September to more than 4.4 million, according to seasonally adjusted numbers from The Conference Board's measure of online help-wanted ads. The number of new ads, those listed for the first time, dropped by 33,700 from the previous month, or 1.3%, in October to almost 2.7 million.

Year over year, the number of online jobs ads was down 5.3% in October.

"The October labor demand data show losses in the financial sector but the greater impact will likely be in the November numbers," said Gad Levanon, senior economist at The Conference Board. "Demand was also down for workers in other areas of the economy, like sales, maintenance and repair, and construction. Based on the all-time low reading in The Conference Board's Consumer Confidence Index, we are likely to see more widespread deterioration in labor demand over the coming months."

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