Help Wanted Online Sees Exhaustion In New Ad Posting
Wednesday morning's GDP number has traders on alert.
After posting a contraction of 2.9 percent in Q1, today's advanced estimate pegged Q2 GDP at four percent. If the economy is that healthy, jobs should presumably follow suit. Looking at Help Wanted Online, however, the drop in the ratio of New Ads to Total Online Help Wanted Ads is back to its elevated 2007 level.
"Labor demand continues to be at historically high levels with employer demand running at about 5 million ads each month," said Dr. Gad Levanon, Director of Macroeconomics and Labor Markets at The Conference Board.
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