SOURCE: WANTED Technologies

March 05, 2009 09:00 ET

WANTED Estimates Decline of 868,000 Jobs in Upcoming February '09 BLS Employment Report

Hiring Demand Data Show Declines Slowing in Finance and Insurance

NEW YORK, NY--(Marketwire - March 5, 2009) - WANTED Technologies (TSX-V: WAN), the leading source of insight and analysis based on hiring demand, is forecasting that the Bureau of Labor Statistics will announce a loss of 868,000 jobs in its upcoming report on US non-farm payrolls for February 2009. WANTED's forecasting model incorporates overall hiring demand based in part on a weekly measurement of the number of job ads placed with online job boards.

"When you include hiring demand in the non-farm payroll model, the forecasted loss is quite large," said Bruce Murray, President and CEO of WANTED Technologies. "Demand is still well below the prior year and about at the same level as in January."

In addition to forecasting the change in total non-farm payrolls, WANTED is also forecasting changes in selected industry payrolls. The weekly hiring demand data that WANTED collects from online job boards is detailed enough to be able to track employment levels at the industry and occupational level.

For the selected industries forecasted for February, WANTED is predicting a loss of 61,000 jobs in Transportation and Warehousing; a loss of 24,000 jobs in Finance and Insurance; and a gain of 36,000 jobs in Healthcare.

Notable within these forecasts is the prediction that the rate of decline in the Finance and Insurance sector may be stabilizing. Job losses in that sector continue, but the number of jobs being eliminated each month is approximately the same as the monthly losses each month for the prior four months.

WANTED's estimates are based on a model that incorporates its own hiring demand data with data supplied by government agencies and other leading researchers. WANTED analyzes more than six million job listings per week -- giving it an extraordinary amount of information about what is -- and is not -- happening in the employment market. Over the past five months, when the demand for labor dropped precipitously in the wake of the financial crisis, WANTED's model was able to anticipate the employment losses more accurately than other consensus estimates released prior to the BLS figures.

Later this month, WANTED will launch its subscription-based Hiring Demand Indicators, a web-based service that permits clients to access hiring demand levels across geographies, industries and occupations.

WANTED also supplies its data to The Conference Board, which relies on it to produce its monthly Help-Wanted OnLine Data Series™.

About WANTED Technologies Corporation

WANTED is the leading source of insight and analysis based on hiring demand. Clients in the media, HR/staffing, financial services and government sectors use WANTED's online data and SaaS-based analytical solutions to identify economic trends, analyze competitive and market activities and prioritize sales opportunities.

WANTED is also the exclusive data provider for The Conference Board's Help-Wanted OnLine Data Series™, the monthly economic indicator of hiring demand in the United States.

WANTED Technologies (TSX-V: WAN) was founded in 1999. The company's headquarters are in Quebec City, Canada, and it maintains a US-based subsidiary with primary offices in New York City. The company began collecting detailed hiring demand data in October 2002, and currently maintains a database of hundreds of millions of unique job listings. Visit www.wantedtech.com for more information about how WANTED helps organizations make better decisions and improve sales results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Any statement that appears prospective shall not be interpreted as such.

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