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…

The weather is hot, the labor market is not. Employers around the country posted 3.0% fewer job openings in June as compared to May. So far this year, demand for workers is below the same period of last year. Labor demand depends on consumption which has not returned domestically nor internationally. In addition, employers now can do more with a smaller workforce thanks to information technology. Growth has to come from new products and services driven by innovation which requires…