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A Few More Positive Signs In LinkUp’s Jobs Data
Despite the turmoil in the markets, fueled in part by the prospect of a double-dip recession and continued weakness in the jobs market (yesterday’s small increase in initial unemployment claims didn’t help), there continue to be some positive signs in LinkUp’s jobs data. First, based on the increase in both new and total job listings indexed from 22,000 company websites across the U.S. in June, we expect that the BLS report for August will show improvement from July’s better than expected report. Second, we are seeing continued growth in August in the number of jobs being indexed by LinkUp’s job search engine.
This morning, LinkUp’s index (which is updated daily) jumped from 838,000 job openings to a record-high 856,000 job openings. As we’ve mentioned in the past, LinkUp ONLY indexes jobs from company websites, so the jobs are always current and there are no phishing jobs, scam jobs, money-mule positions, work-at-home scams, or any of the other garbage listings that pollute job boards and aggregation sites like Indeed and Simplyhired. And because we index jobs from a single source (the hiring company’s website itself), there are no duplicate listings. (For more information on duplication pollution, click here).
Equally as encouraging, the average number of job openings per company jumped to an all-time high of 40. As an aside, the spike in this chart in May was what helped allow us to make an accurate call regarding July’s unexpectedly positive jobs report. (Our jobs data for any given month is highly correlated to the official jobs report 60 days following that month).
In any event, LinkUp’s jobs data for July doesn’t bode well for September’s jobs report, but perhaps August’s numbers will remain strong and we’ll see a decent jobs report in October. It certainly would be welcomed.