By: E&P Staff
While Monster and CareerBuilder reported strong Q2 results this week, there is concern that the economy could be slowing in the upcoming months affecting recruitment ad dollars.
Today The Conference Board released its monthly index that measures recruitment ad volume in 51 print newspapers. Though the index remained unchanged in June standing at 33 (compared to May) the index was at 39 in June 2005.
In the last three months, help-wanted advertising declined in all nine regions measured by the Conference Board, with West North Central (down 16.8%), Middle Atlantic (down 15.3%), and the Pacific regions (down 13.3%) taking the biggest hit.
?These readings had signaled a cooling off in labor demand as early as this past winter,? Ken Goldstein, labor economist at the Conference Board, said in a statement. ?Only 121,000 new jobs opened up in June. The latest ad volume readings suggest that job growth late this summer and going into the fall may be just as slow.?
The organization also measured unduplicated online job ads and found that the June level increased by 3% compared to May. Online job ads grew 4% in May.