New York, NY, June 30--The Conference Board’s Help-Wanted Advertising Index – a key barometer of America’s job market – dipped two points in May. The Index now stands at 37. It was 39 one year ago.
In the last three months, help-wanted advertising declined in all nine U.S. regions. Steepest declines occurred in the Mountain (-15.4%), South Atlantic (-13.9%), and East South Central (-11.7%) regions.
Says Ken Goldstein, The Conference Board’s Labor Economist: "Hiring intentions have turned cautious as business executives face the prospect of slower overall economic activity in the second half of 2005. While the Coincident Economic Index, which focuses on current economic conditions, continued to edge higher, the Leading Economic Index fell for the fourth time in the last five months. The biggest obstacle to more hiring is the increase in labor costs relative to the rate of price increases."
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.
