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Help-Wanted Advertising Index Dips

Jul 28, 2000, 9:24 AM
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The Conference Board's Help-Wanted Advertising Index dipped one point to 81 in June, down from 82 in May. It was 85 one year ago. In the last three months, help-wanted advertising declined in eight regions. Steepest declines were in the East North Central (-12.5%), East South Central (-10.5%), New England (-10.5%) and West North Central (-9.7%) regions. Conference Board Economist Ken Goldstein says the demand for labor has slowed.

"Want-ad volume fell seven points in May, and dipped again in June, giving up all of the gains since last September. Initial unemployment claims have stopped falling. Job growth is likely to remain subdued through the fall, with the unemployment rate staying at 4 percent, or even moving a point or two higher. This would give employers a little breathing room in a labor market marked by unprecedented tightness," Goldstein explains.

The Conference Board surveys help-wanted advertising volume in 51 major newspapers across the country every month. Because ad volume has proven to be sensitive to labor market conditions, this measure provides a gauge of change in the local, regional and national supply of jobs.

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