Industry News

Job market may stay sluggish into ’08

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A key economic indicator measuring the volume of job ads in major U.S. newspapers dipped one point in October, a sign that the sluggish labor market may continue into spring 2008, The Conference Board reported today. The organization's Help-Wanted Advertising Index dropped from 24 in September to 23 last month, and is down from 29 a year ago. Based on monthly help-wanted, print-advertising volume in 51 U.S. newspapers -- and because ad volume has proven to be sensitive to labor market conditions -- this index provides a gauge of change in the local, regional and national supply of jobs. "The slump on home buying and building, higher gas prices, higher grocery prices, and credit availability questions are combining to slow the economy," Ken Goldstein, labor economist at The Conference Board, said in a statement. "The Coincident Economic Index, a measure of where the economy is right now, was flat in October. That was the first month all year when it did not rise at all. The Le...