Industry News

Job market forecast: gloomy

Businesses brace for smaller profits this winter

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A key indicator that measures job offerings in major U.S. newspapers dropped for the second straight month in August, as businesses faced lower sales and rising costs, the Conference Board reported Thursday. The Help-Wanted Advertising Index fell one point to 31 last month, down from 32 in July and 37 one year ago. In the last three months, help-wanted advertising declined in eight of the nine U.S. regions. Steepest declines occurred in the West North Central (-17.5 percent), Middle Atlantic (-17.3 percent), Mountain (-9.2 percent) and West South Central (-9.2 percent) regions. "The latest data show that job advertising in print edged lower again in August, while the rise in ad volume online continued to slow," said Ken Goldstein, labor economist at the Conference Board. "A stronger job market this winter does not seem likely, given the overall economic environment. It's not just cooler consumer attitudes and spending (despite some relief from high gas prices). Bu...