Help-Wanted Index Stays Put

By: E&P Staff The Conference Board announced today that its help-wanted index -- a measure of help-wanted ads published in 51 major newspapers across the country -- remains the same as in August, at 37. It was also at 37 for the same period a year ago.

"The labor market remains flat and it is beginning to sap consumer confidence," said Ken Goldstein, an economist at the Conference Board, in a statement. He added that while the economy is growing, it's not growing fast enough to create new jobs.

"With economic questions being raised about consumption and exports, plus cost considerations, business executives have turned cautious about hiring, as reflected by the flat trend in want-ad volume," he said.

All nine U.S. regions have experienced declines in help-wanted advertising in the last three months. The areas hit hardest: New England, down 10.4%, Pacific, down 8.9%, West North Central, down 8.4%, and East North Central, down 7.5%.