Industry News

Inflation puts drag on hiring

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

A key indicator that measures job offerings in major U.S. newspapers held steady in September, as inflation worries impacted hiring plans, The Conference Board reported today. The Help-Wanted Advertising Index registered 30 last month, unchanged from August but still much lower than the 37 reading reported a year earlier. In the last three months, help-wanted advertising declined in all nine U.S. regions. Steepest declines occurred in the West South Central (-17.5 percent), South Atlantic (-14.6 percent), and West North Central (-13.7 percent) regions. "The labor market remains cool going into the final months of the year. The latest data shows that job advertising in print was unchanged in September, while online ad volume dipped," said Ken Goldstein, labor economist at The Conference Board. "These measures of want-ad volume had signaled a cooling off in labor demand as early as a year ago. Although higher gas prices and a cooling housing market softened the economy, inflation rema...