As if we didn’t know how bad it is out there, the Conference Board has the data. Online advertised vacancies declined 506,000 to 3,355,000 in January, according to Board’s latest “Wanted Online Data Series.” The loss comes on the heels of December’s drop of 507,000. Together that makes over 1 million jobs gone, a 23 percent decline in just two months.
Gad Levanon, senior economist at The Conference Board, commented that “the number of unemployed looking for work already exceeded the number of advertised vacancies by 7.3 million” in December. January’s stats make it worse still.
In the Southern U.S., Texas experienced the largest decline with 36,300 disappearing jobs in January. Florida and Georgia declined 25,200 and 13,200 respectively during the month.
In the Northeast region, New York led with a drop of 30,700 jobs. In the Midwest, Ohio had the largest drop – 20,200.
The highest supply/demand rate in the U.S. is Michigan where there are over 6 unemployed people for every advertised vacancy.
In terms of actual jobs, the toughest hit were transportation & material moving; office and administrative support; legal; business and finance; construction; management; and food-related work. Online job demand for healthcare support occupations shows some relative strength with modest decline of “only” 5,000 jobs.