“When you include hiring demand in the non-farm payroll model, theforecasted loss is quite large,” said Bruce Murray, President and CEO ofWANTED Technologies. “Demand is still well below the prior year and aboutat the same level as in January.”
In addition to forecasting the change in total non-farm payrolls, WANTED isalso forecasting changes in selected industry payrolls. The weekly hiringdemand data that WANTED collects from online job boards is detailed enoughto be able to track employment levels at the industry and occupationallevel.
For the selected industries forecasted for February, WANTED is predicting aloss of 61,000 jobs in Transportation and Warehousing; a loss of 24,000jobs in Finance and Insurance; and a gain of 36,000 jobs in Healthcare.
Notable within these forecasts is the prediction that the rate of declinein the Finance and Insurance sector may be stabilizing. Job losses in thatsector continue, but the number of jobs being eliminated each month isapproximately the same as the monthly losses each month for the prior fourmonths.
WANTED’s estimates are based on a model that incorporates its own hiringdemand data with data supplied by government agencies and other leadingresearchers. WANTED analyzes more than six million job listings per week –giving it an extraordinary amount of information about what is — and isnot — happening in the employment market. Over the past five months, whenthe demand for labor dropped precipitously in the wake of the financialcrisis, WANTED’s model was able to anticipate the employment losses moreaccurately than other consensus estimates released prior to the BLSfigures.
Later this month, WANTED will launch its subscription-based Hiring DemandIndicators, a web-based service that permits clients to access hiringdemand levels across geographies, industries and occupations.
WANTED also supplies its data to The Conference Board, which relies on itto produce its monthly Help-Wanted OnLine Data Series(TM).
About WANTED Technologies Corporation
WANTED is the leading source of insight and analysis based on hiringdemand. Clients in the media, HR/staffing, financial services andgovernment sectors use WANTED’s online data and SaaS-based analyticalsolutions to identify economic trends, analyze competitive and marketactivities and prioritize sales opportunities.
WANTED is also the exclusive data provider for The Conference Board’sHelp-Wanted OnLine Data Series(TM), the monthly economic indicator ofhiring demand in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy oraccuracy of this release. Any statement that appears prospective shall notbe interpreted as such.