Industry NewsMarkets & Economy

Economist on job market: ‘Expect a slow burn’

Fewer metro areas reported rising want-ad volume in February

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A report from The Conference Board this week suggests that improvement in the U.S. job market is unlikely before the third or fourth quarter of this year. The organization's Help-Wanted Advertising Index, a key economic indicator measuring the volume of job ads in major U.S. newspapers, dipped one point in February to 21, and is down nine points from the same time last year. The Conference Board reported that just 31 percent of labor markets surveyed last month reported rising want-ad volume, down from 43 percent in January and 59 percent in December. "More regions of the country are experiencing economic distress and the impact is now evident in the labor markets -- the result of constant, unrelenting pressure from multiple sources. There's been very little profit growth, and virtually no job growth in the past three months," said Ken Goldstein, labor economist at The Conference Board, in a news release. "Businesses are cautious about investing and hiring. ...