Help-Wanted Index dips 1 point in March

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The Help-Wanted Advertising Index of job offerings in major newspapers nationwide declined in March for the third consecutive month to 30 points from February’s 31 and January’s 32, according to a report today from The Conference Board. In March 2006, the index stood at 37 points.
Online job postings declined 2 percent in March, the business research group said.
The Help-Wanted Advertising Index – based on print ads in 51 major newspapers – has declined over the past three months in every region but New England, which posted a 3.2-percent first-quarter gain.
But the proportion of labor markets with rising want-ad volume rose last month to 41 percent from 29 percent in February and 31 percent in March 2006, the board noted. And national unemployment has declined to 4.4 percent from 4.5 percent in February, 4.6 percent in January and 4.7 percent in March 2006.
“The forward indicators of labor-market activity have been mixed in recent months,” said Ken Goldstein, a labor economist at The Conference Board. “The economy has lost a little momentum and growth prospects remain somewhat questionable. But business confidence regained a little strength in the first quarter, suggesting that employers may be inclined to hire workers if their business growth does not fall.
“The relatively modest ad volume now could be a signal that job growth may be modest (not more than 130,000 per month) this summer.”
The Conference Board is a nonpartisan, nonprofit business membership and research organization with offices in New York City, Chicago and abroad. Additional information is available at www.Conference-Board.org.

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