By: E&P Staff The Conference Board said today that its Help-Wanted Advertising Index declined two points in July to 32 compared to June. It was 39 one year ago.
In the last three months, recruitment advertising dropped in eight of the nine U.S. regions. The steepest declines occurred in the West North Central (-21.5%), Middle Atlantic (-15.3%), and Mountain (-14.6%) regions.
"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 hurricanes and flooding," Ken Goldstein, labor economist with the Conference Board, said in a statement. "This was simply a matter of an economy running above average for an extended period and starting to moderate."
The organization reported that online help-wanted ads also declined. The July level was 101,900 job offerings -- or 4% -- below the previous month.
The Conference Board surveys print recruitment-advertising volumes in 51 major newspapers across the country every month.
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