The Economic Crisis and the Online Job Market

SHOOT: It's obvious from a cursory glance at these graphs what a huge knock the online job market is taking. Numbers have almost halved. It's a fundamental shift.

Declines weren't confined to states with large numbers of job postings, or certain regions of the country. Every state suffered large drops: the "best-performing" state (OK) saw a 36% decline in number of job postings per day. - Radar.oreilly.com

clipped from radar.oreilly.com What is the current state of the online job market? The financial crisis that began in the Fall of 2008 has had a lasting negative effect on the U.S. online job market. Since late 2008, there have been significantly less jobs posted online. The number of posts declined 49% from Jan/May 2008 to Jan/May 2009. While there has been a downward trend since April 2008, the financial crisis in September 2009 marked the start of even larger reductions. In particular, the relatively small number of job postings in Nov/Dec 2008 has carried over into the first five months of 2009. The sharp seasonal rebound that occurs in Jan/Feb of each year, was practically non-existent in 2009. While some forecasters are seeing signs of a recovery, at least through the first five months of 2009, we haven't detected "green shoots" in the U.S. online job market.