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December Jobs Report Will Be Far Worse Than Expected
The Department of Labor will release its jobs report for December tomorrow, and the data will undoubtedly show that the economy is a long way from healthy recovery mode. Economists are expecting that the U.S. economy actually added jobs during the month, marking the first monthly job gains since December of 2007. The Conference Board’s Consumer Confidence Index, which rose again in December, adds a faint glimmer of hope that this might be the case.
Not a chance.
If LinkUp’s data is any indication, the U.S. economy is still on life support and job growth remains a mirage. LinkUp, a job search engine that only indexes job listings that are found exclusively from over 20,000 corporate websites around the U.S., released its December jobs report today and the news is grim. Job listings on company websites in the LinkUp index dropped by 108,837 (24%) from November. Total job listings on company websites dropped by 142,641 (17%).
Job listing declines were widespread throughout the country, with 44 states (45 including Washington, D.C.) reporting fewer new job openings on company websites than the previous month and only 5 states reporting an increase. Total job listings dropped in 40 states (41 including Washington, D.C.), with only 8 states reporting an increase in December.
LinkUp, the fastest growing job search engine on the web, indexes job listings from over 20,000 corporate and employer websites throughout the U.S. Because the index is updated daily and only includes job listings that are found on career portals within company websites, the completely unique jobs data is extremely reliable. There are no jobs from recruiters, headhunters, search firms or staffing companies, and no scam jobs, phishing jobs, or other fraudulent postings. And because LInkUp only indexes jobs from a single source – the hiring company itself – there are no duplicate listings that pollute job board aggregator sites such as Indeed and Simplyhired.
In terms of the best and worst performing states, Minnesota, New Jersey, and Vermont showed the largest increases in new job listings (though the gains were still anemic), while California, Texas, and New York reported the largest declines in new job listings.