Industry News

Job growth may be headed for slowdown

Help-wanted advertising index suggests weak summer, fall

A key indicator that measures job offerings in major newspapers nationwide held steady in June, the Conference Board reported Thursday. The Help-Wanted Advertising Index stands at 33, unchanged from May but down from 39 one year ago. In the last three months, help-wanted advertising declined in all nine regions of the United States. Steepest declines occurred in the West North Central (-16.8 percent), Middle Atlantic (-15.3 percent) and the Pacific (-13.3 percent) regions. "The latest data shows that classified job advertising in newspapers held steady in June while the rise in ad volume online continued to slow. These readings had signaled a cooling off in labor demand as early as this past winter," said Ken Goldstein, labor economist at The Conference Board. "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. Consumers are bracing for just such a development, as indicated in o...