New York, NY, August 30, 2006--The Conference Board Help-Wanted Advertising Index--a key measure of job offerings in major newspapers across America--declined two points in July.
The Index now stands at 32. It was 39 one year ago.
The Conference Board, the global business research and membership organization, examines each month help-wanted ads in 51 newspapers and online.
In the last three months, help-wanted advertising declined in eight of the nine U.S. regions. Steepest declines occurred in the West North Central (-21.5%), Middle Atlantic (-15.3%) and Mountain (-14.6%) regions.
Says Ken Goldstein, labor economist at The Conference Board: "While there is a tendency to blame gas prices and a cooling housing market for the softening trend in overall economic activity, that isn't the whole story. The economy was starting to lose some steam a year ago, before gas prices went through the roof and the housing market began cooling down, and even before the hurricanes and flooding. This was simply a matter of an economy running above average for an extended period and starting to moderate. The run-up in gas prices and the cooler housing market have simply intensified this trend. The result this summer is slower job growth and less labor demand going forward."
New unduplicated online job ads across the U.S. decreased in July to 2,334,400, according to The Conference Board Help-Wanted OnLine Data Series. The July level was 101,900 job offerings (4 percent) below the previous month. In July, there were 1.55 online job ads per 100 persons in the U.S. labor force, compared with 1.63 in June 2006, 1.57 in May and 1.51 in April.
