That means there were 1.39 new online jobs advertised for every 100 people in the labor force (which includes people now working and those seeking jobs). This measure scales the number of help-wanted online ads to adjust for the size of the labor force.
The Conference Board's new online data series provides a monthly count of unduplicated help-wanted job ads posted for the first time on over 1,200 major Internet job boards, including the largest boards as well as some smaller boards that serve niche markets and smaller geographic areas.
Said Janet Norwood, former Commissioner of the U.S. Bureau of Labor Statistics: 'This new online help-wanted series is another in the broad array of economic data published by The Conference Board. The Conference Board is to be congratulated on its use of the latest technology in data collection and on its willingness to stimulate user comments to assist The Board in its continuous efforts to improve the quality of its data.'
Data for the new online series is provided to The Conference Board by Wanted Technologies, Inc. CareerBuilder.com provides financial support for the new economic series.
NEW ENGLAND, ROCKY MOUNTAIN, PACIFIC TOP ONLINE LIST
New England - which includes Maine, Vermont, New Hampshire, Massachusetts, Connecticut and Rhode Island - led other regions in online job postings in June. Just over 2 new online help-wanted ads were posted for every 100 persons in the New England labor force. Both the Rocky Mountain region (including Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona and New Mexico) and the Pacific region (including Alaska, California, Hawaii, Oregon and Washington) had 1.93 new online help-wanted ads for each 100 labor force participants.
Weakest online job advertising in June was in the West South Central region (including Arkansas, Louisiana, Oklahoma and Texas), which offered just under 1 online job ad per 100 people in the labor force.
'While the labor market typically demonstrates positive seasonal growth in advance of summer, the seasonal patterns for this series have not yet been identified,' says Ken Goldstein, Labor Economist at The Conference Board. 'Internet usage also varies across communities, suggesting that the relationship between the number of new job openings and new job postings differs across geographies. As The Conference Board Help-Wanted OnLine Data Series(TM) grows longer, we will know more about its seasonality and its relationship to other labor market factors.'
ABOUT THE NEW ONLINE JOB SERIES
Like The Conference Board's long running Help-Wanted Advertising Index of print ads (which has been published since 1951), the new online series is not a direct measure of job vacancies. The level of ads in both print and online may change for reasons not related to overall job demand. Over the years, analysts have applied various data-smoothing techniques to the Help-Wanted Advertising Index of print ads and determined that it continues to be a useful measure of the state of labor demand in the United States (see Federal Reserve Bank of San Francisco, Economic Letter, #2005-02, January 21, 2005).
The Conference Board, as a standard practice with new data series, considers the estimates in The Conference Board Help-Wanted OnLine Data Series(TM) to be developmental. As a not-for-profit business research organization, The Conference Board is publishing the early months of this series for use by the media, analysts, researchers and the business community. Persons using this data are urged to review the information on the database and methodology available on our website and contact the economists listed at the top of this release with questions and comments.
Background information and technical notes on this new series are available on The Conference Board's website - www.tcb.org.
ABOUT THE CONFERENCE BOARD
Non-partisan and not-for-profit, The Conference Board is one of the world's leading business membership and research organizations. The Conference Board produces The Consumer Confidence Index and the Leading Economic Indicators for the U.S. and other major nations. These barometers can have a major impact on the financial markets. The Conference Board also produces a wide range of authoritative reports on corporate governance and ethics, human resources and diversity, executive compensation and corporate citizenship. Our conference and council programs bring together more than 10,000 senior executives each year to share insights and learn from each other. Visit The Conference Board's award-winning website at www.conference-board.org.
Logos, product and company names mentioned are the property of their respective owners.