Help-Wanted Index Falls 32%

By: E&P Staff The Conference Board's Help-Wanted Index fell one point to 21 in January compared to December. Year-over-year the index declined 32%.

Help-wanted advertising dropped in five of the nine regions measured by the organization. The biggest declines occurred in the East South Central (down 16.3%), Pacific (down 12.2%), and South Atlantic (down 5.3%) regions.

Ken Goldstein, a labor economist with the Conference Board, had this to say about the year, "The best thing about 2008 is that it will end next winter. Many economists debate whether we're in a recession or on the verge of one. What's more important is that people are behaving as if a recession is already here."

He added: "The latest data on job advertising in print suggests there's virtually no chance that labor market activity will improve over the next few months. To the contrary, there is a chance the labor market could grind to a halt."

The Conference Board surveys print help-wanted advertising volume in 51 major newspapers across the U.S.