Demand for new workers in U.S. likely to rebound in July

Echoing the snapback in online job postings reported by the Conference Board of U.S., the Bureau of Labor Statistics' (BLS) tally of available positions likely climbed by 96K to 5.345 million in July, just 12K shy of the "all-time" high recorded in May. 

The correlation between the Conference Board and BLS series since May 2005 stands at 0.66, while the gap has narrowed to an estimated 39K from the record high 1.16 million at the end of 2012. Looking ahead, the Conference Board reported that online help-wanted ads rose by another 34,000 in August, pointing to another rise in next month's government report, notes Societe Generale.