Online labor demand in the United States began its descent toward the end of the year. Employers posted 2.4% fewer job openings in November than in October. Employers struggled to maintain a decent level of labor demand this year. Cracks began to show in June when the market lost 3.0% of its volume. From there it was a slow slide towards election day. During the four weeks before the election posting volume increased indicating more optimism on the employer side (see weekly chart below).…

The US online job market is drifting along. In September, employers nationwide posted 0.6% fewer job openings than in August. Year-over-year demand is down 3.6%. This further confirms that employers keep sitting on their hands waiting for reasons to be more optimistic. The US payroll is growing incrementally, an indication that employers hire only when desperate. They are looking for more signs of consumption.

The Indicators for consumer confidence…

Labor demand dipped slightly in August as employers posted 0.2% fewer job opportunities compared to July. Now heading into the fall hiring season labor demand may increase again depending on how confident employers are about their economic future. We do not expect a boost in the coming months since significant uncertainties (presidential election, “fiscal cliff”, Europe’s debt struggles) influence the national economic mood.

Consumer…

Online labor continued to decline in July. Employers posted 1.4% fewer job openings than in June. Year-over-year the online job market declined 4.1%. The current number of posted job openings is 32.7% below peak demand in August 2007.

United States Job Openings (Online Postings) and Unemployment Rate

January 2007 – July 2012…