Aug. 9 (UPI) — An index reflecting the number of online jobs available in the U.S. economy increased in July, but remains below year-ago levels, The Conference Board said Wednesday.
The board’s Lightcast Help Wanted Online Index hit 161.9 last month, up a fraction from June levels.
“The 0.3% increase between July and June follows a 0.4% decrease between June and May,” the board stated. “Overall, the index is down 6.8% from one year ago.”
The report follows word that video-conference company Zoom is urging its employees back to the office in a hybrid role. A spokesperson for the company told USA Today that employees who live within 50 miles of a Zoom office need to show up in person at least twice a week.
“As a company, we are in a better position to use our own technologies, continue to innovate, and support our global customers,” the spokesperson said.
Video conferencing was a near-essential tool during the worst of the pandemic as offices closed in droves in an effort to control the spread of the novel coronavirus that causes COVID-19.
Hiring in general remains robust, something that President Joe Biden attributed to the success of his economic plan, which the White House dubbed Bidenomics.
Private payroll processor ADP showed employers added 324,000 to their headcounts last month, suggesting the economy remains supportive of new hires despite higher lending rates and lingering inflationary pressures.
“The economy is doing better than expected and a healthy labor market continues to support household spending,” said Nela Richardson, the chief economist at ADP.
Wage growth, however, is on the decline. The 6.2% increase in wages from this time last year marked the slowest rate since November 2021.
