Employment ads take a tumble

By: Joe Nicholson

The Conference Board’s Help-Wanted Advertising index fell to 84 in June, down 5 points from May, the Business Wire reports.
The May level of 89 is the same level it was the year before.
In the last three months, help-wanted advertising declined in every region except New England, where it climbed 11.6%. Steepest regional declines were in West South Central, down 8.9%; East South Central, down 8.1%; and Mountain, down 8%.
“Labor demand dipped this summer,” says Ken Goldstein, an economist with the Conference Board. “The last time that the volume of job advertising was this low was in May 1977. But unless the labor market weakens dramatically in the second half of the year, which is very unlikely, this latest labor market pause could prove to be temporary.”
The Conference Board surveys help-wanted advertising volume in 51 major newspapers across the country each month. The survey reflects changes in the supply of jobs at the local, regional, and national levels because ad volume has been shown to gauge labor market conditions.
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