One of the most reliable indicators I've found for the employment market is job postings for recruiters. It stands to reason that if companies are hiring recruiters they are planning to add to their staff. I post corporate recruiter positions in the Jobs for Recruiters forum on RecruiterSpace San Diego. Here's the data from the past few months:
Month, Number of corporate recruiter posts
June (to date), 3
May, 9
April, 8
March, 1
February, 4
January, 3
Most of the posts are either education or medical related but I suspect that we're about to see a significant change in the market as a whole.
I don't pay any attention to recruitment agency posts but they would be an excellent indicator too.

