If the debt deal passes on Monday in time to avert a federal default, all eyes will turn to the July jobs report coming Friday from the Labor Department. The last report, as you remember, was dismal: employers added just 18,000 net nonfarm payroll jobs in June.
Signals are not looking good. A key survey of manufacturers showed that employment in July grew at a slower rate than in June. And the Conference Board, a business group, released a survey showing that vacancies advertised in Internet job listings fell by 217,000 in July, leaving 3.22 job seekers per opening. Another way of putting that: there are 9.7 million more people out of work than there are advertised openings.
Source: Conference Board
On the bright side, a few large states showed growth in online job listings, including Minnesota, North Carolina, Ohio and Washington. In one state — North Dakota — vacancies actually exceeded the number of unemployed people. That’s not a surprise, though. Oil has kept that state booming while the rest of the country has suffered.
But listings fell in California and New York. In another worrying sign, openings for health care providers and technicians, one of the few categories that has had consistent growth throughout the recession and technical recovery, slipped by 61,200. And ads for home health care aides fell by 11,900.
Online listings increased in construction and food service. But construction was so hard hit by the housing downturn that there are still 17 unemployed workers for every opening. And in food service, there are seven job seekers for each opening.
Article source: http://feeds.nytimes.com/click.phdo?i=419b8afcf93534a1a619ef057032d1dd
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