By: E&P Staff
The Conference Board reported on Monday that online advertising vacancies fell 0.6% to 3.7 million in March compared to the same month last year. The organization said it’s the first year-over-year decline, pointing to a hiring slowdown.
“The softening in advertised vacancies evident over the last few months spread to more states in March and, for the first time, annual growth turned negative for the nation as a whole,” Gad Levanon, an economist at the Conference Board, said in a statement. “It would not be surprising to see a third straight month of job losses when employment data are released later this week as well as continued weakness in the months ahead.”
The organization’s Help-Wanted Online Data Series measures the number of new, first-time online jobs and jobs reposted from the previous month on more than 1,200 online job boards.
Year-over-year in March, six of the nine regions measured by the Conference Board made job gains in March. The exceptions were some regions hardest hit by the real estate downturn: South Atlantic, Pacific, and New England.
The number of ads in March dropped 5% compared to February. All nine regions experienced declines compared to February.