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KEY JOB MARKET BAROMETER UNCHANGED IN JULY
| The Help-Wanted Advertising Index, a key barometer of the U.S. job market, was unchanged at 38 points in July compared to June and down from 44 points compared to the same period a year ago, according to a recent report by the Conference Board. In the last three months, help-wanted advertising rose in six of nine U.S. regions, wth the largest increases occurring in the Mountain (12.6 percent), Pacific (9.8 percent) and East South Central (6.6 percent) regions. Declines occurred in the West North Central (-1.8 percent), West South Central (-1.5 percent) and South Atlantic (-0.3 percent) regions. "The labor market may finally be hitting bottom," said Conference Board Economist Ken Goldstein. "While layoffs remain large, they are no longer intensifying. Job advertising volume has stopped declining, although it remains at very low levels." 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 an important gauge of change in the local, regional and national supply of jobs. |