U.S. Help-Wanted Index fell to 58 in June

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Thursday July 26, 10:00 am Eastern Time U.S. Help-Wanted Index fell to 58 in June NEW YORK, July 26 (Reuters) - The Help Wanted Advertising Index, which gauges changes in the supply of jobs across the nation, fell in June as demand for labor weakened across the country, the Conference Board said on Thursday.

The index fell two points in June to 58 from May's reading of 60 and is 24 points below its reading of 82 in June 2000, as the U.S. economic slowdown has led to a sharp drop in help wanted advertising.

The help-wanted advertising has fallen in all nine U.S. regions during the past three months, the report said.

``Latest readings from the Help-Wanted Index point to only modest job growth ahead. That should boost consumer confidence, with many consumers assuming the worst is over,'' said Ken Goldstein, an economist at the Conference Board.

The Conference Board surveys 51 major newspapers across the country about their patterns of help-wanted ads every month. The following figures include the latest seasonal adjustments to the index.

June May April June '00 National 58 60 65 82 Regions: New England 37 40(r) 43 58 Middle Atlantic 40 46 51 60 East North Central 53 52 60 82 West North Central 100 107 116 105 South Atlantic 41 38 43 60 East South Central 92 96 100 117 West South Central 85 87 95 121 Mountain 79 82 91 123 Pacific 54 54(r) 53 73

-- Guy Daley (guydaley1@netzero.net), July 26, 2001

Answers

<< That should boost consumer confidence >>

Huh? I don't get it. Why should fewer good jobs being advertised (coupled with more layoffs as so nicely reflected in the millionth continuation of the "Layoffs" thread) make people happier? Or am I missing something here?

-- Andre Weltman (aweltman@state.pa.us), July 26, 2001.


It would seem to me that if the business climate is slowing then who needs more employees. One would glean from this article that thing are not rosey but getting gloomier.

-- John Hockman (jhock34981@yahoo.com), July 26, 2001.

This article just didn't make sense.

``Latest readings from the Help-Wanted Index point to only modest job growth ahead. That should boost consumer confidence, with many consumers assuming the worst is over,'' said Ken Goldstein, an economist at the Conference Board. "

He is either incredibuly dense or has some real good happy drugs.

suzy

-- suzy (itssuzy2@aol.com), July 26, 2001.


``Latest readings from the Help-Wanted Index point to only modest job growth ahead. That should boost consumer confidence, with many consumers assuming the worst is over,'' said Ken Goldstein, an economist at the Conference Board.

If the rest of the article is correct, job "growth" is considerably less than modest. All this happy-face talk astounds me, whether it's from the market analysts on tv or the financial reporters in the newspapers. As for Goldstein: Whatever he's taking, I want some.

-- Cash (Cash@andcarry.com), July 27, 2001.


Jobs are definately in the tank. And you're right, the article definitely makes no sense.

However, differences in regional results can be instructive. Notice how even in June 2000 only East South Central, West South Central, and Mountain were ++100.

Most of the rest of the country was EVEN THEN in Recession!!



-- lael chiam (lael7821@aol.com), July 27, 2001.



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