Online Labor Demand Increased in October

The Conference Board−Lightcast Help Wanted OnLine® (HWOL) Index increased in October 2024 to 116.0 (July 2018=100), up from a downwardly revised 113.7 in September. The 2.0% increase between October and September followed a 5.3% decrease between September and August. Overall, the Index is down 12.6% from one year ago.

The HWOL Index measures the change in advertised online job vacancies over time, reflecting monthly trends in employment opportunities across the US. The Help Wanted OnLine® Index is produced in collaboration with Lightcast, the global leader in real-time labor market data and analysis. This collaboration enhances the Help Wanted OnLine® program by providing additional insights into important labor market trends.

Help Wanted OnLine® (HWOL) Index: United States, seasonally adjusted, October 2024

[July 2018=100]

Sources: The Conference Board, Lightcast, Bureau of Labor Statistics

PROGRAM NOTES
Prior to 2020, The Conference Board constructed the HWOL Index based solely on online job ads over time. Using a methodology designed to reduce non-economic volatility contributed by online job sources, the HWOL Index served an effective measure of changes in labor demand over time.
Beginning January 2020, the HWOL Index was refined as an estimate of change in job openings (based on BLS JOLTS), using a series of econometric models which incorporate job ads with other macroeconomic indicators such as employment and aggregate hours worked. By adopting a modeled approach which combines other data sources with data on online job ads, the HWOL Index more accurately tracks important movements in the labor market.

HWOL Annual Revision. With the May 2024 press release, the HWOL program has incorporated its annual revision, which helps ensure the accuracy and consistency of the HWOL Data Series. This year's annual revision includes updates to the Occupational coding, the Industry coding, and the Geography coding for the HWOL Data Series from January 2015-forward. The HWOL Index has also been updated from January 2020-forward.

In August 2024, Lightcast and The Conference Board identified a technical coding error in the HWOL Data Series. The HWOL Data Series was historically revised from March 2024-present with the release of the July 2024 data.

The Conference Board-Lightcast Help Wanted OnLine® (HWOL) Index measures changes over time in advertised online job vacancies, reflecting monthly trends in employment opportunities across the US. The HWOL Data Series aggregates the total number of ads available by month from the HWOL universe of online job ads. Ads in the HWOL universe are collected in real-time from over 50,000 online job domains including traditional job boards, corporate boards, social media sites, and smaller job sites that serve niche markets and smaller geographic areas.

Like The Conference Board's long-running Help Wanted Advertising Index of print ads (which was published for over 55 years and discontinued in July 2008), Help Wanted OnLine® measures help wanted advertising-i.e. labor demand. The HWOL Data Series began in May 2005 and was revised in December 2018. With the December 2018 revision, The Conference Board released the HWOL Index, improving upon the HWOL Data Series' ability to assess local labor market trends by reducing volatility and non-economic noise and improving correlation with local labor market conditions.

In 2019, Lightcast (formerly Emsi Burning Glass) joined the Help Wanted OnLine® program as the new sole provider of online job ad data for HWOL. With this partnership, the HWOL Data Series has been revised historically to reflect a new universe and methodology of online job advertisements and therefore cannot be used in conjunction with the pre-revised HWOL Data Series. The HWOL Data Series begins in January 2015 and the HWOL Index begins in December 2005. HWOL Index values prior to 2020 are based on job ads collected by CEB, Inc.

Those using this data are urged to review the information on the database and methodology available on The Conference Board website and contact us with questions and comments. Background information and technical note and discussion of revisions to the series are available at: http://www.conference-board.org/data/helpwantedonline.cfm.

About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What's Ahead™. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.ConferenceBoard.org.

About Lightcast
As the global leader in labor market analytics, Lightcast illuminates the future of work with data-driven talent strategies. Formerly Emsi Burning Glass, Lightcast finds purpose in sharing the insights that build communities, educators, and companies, and takes pride in knowing our work helps others find fulfillment, too. Headquartered in Boston, Massachusetts, and Moscow, Idaho, Lightcast is active in more than 30 countries and has offices in the United Kingdom, Italy, New Zealand, and India. Lightcast is backed by global private equity leader KKR. https://lightcast.io/