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HELP WANTED INDEX
DIPS SLIGHTLY
The Conference Board's Help-Wanted Advertising Index dipped slightly to 86 in October, down three points from September. The figure was 81 one year ago.
In the last three months, help-wanted advertising rose in six regions and fell in three. The largest increase was in the New England region (7.5%). It was followed by the Pacific (7.0%), South Atlantic (4.9%), West South Central (4.1%) and East South Central (2.9%) regions. Declines were in the Middle Atlantic (—3.1%), East North Central (—2.5%), and West North Central (—0.1%) regions.
“Companies show no signs of slowing down job recruitment efforts,” says Conference Board Economist Ken Goldstein. “Job growth will not soften through the start of the new year. Confident consumers with money to spend have been the bulwark of this economy for the last two years, and show no signs of changing.”
Job advertising growth only remains slow in areas where there is a shortage of job applicants. These conditions are similar to the late 1980's, the last time there were reports of jobs available and no one to fill them. This time around, women are entering the labor force more than ever before, and more older workers are coming back, even if only to take part-time positions. The ratio of job-holders to the total population is higher now than it has ever been, notes Goldstein.
The Conference Board surveys help-wanted advertising volume in 51 major newspapers across the country every month. Because ad volume has proven to be sensitive to labor market conditions, this measure provides a gauge of change in the local, regional and national supply of jobs.
Oct 97 Sep 97 Aug 97 Oct 96 National Index 86 89-R 86-R 81-R Proportion of Labor Markets with Rising Want-Ad Volume 31% 67% 57% 29% Unemployment Rate 4.7% 4.9% 4.9% 5.2% Latest Seasonally-Adjusted Results
November 26, 1997The Conference Board
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