P.M. BRIEFING : Help-Wanted Ads Still on Slide
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NEW YORK — A national index of help-wanted advertising fell further in October, indicating a continued weakening of the labor market, a business research organization said today.
The Conference Board said the seasonally adjusted index fell to 116 in October, six points below September’s level and 34 points below a year ago.
“The decline in the economy in the fourth quarter affords very little opportunity to develop any new jobs,” said Conference Board Economist Ken Goldstein. “Layoffs continue to climb, as does the national unemployment rate.”
Help-wanted advertising volume fell in seven of the nation’s nine major regions, with East South Central registering the steepest decline, 12.8%; New England fell 9.2%; the South Atlantic 9.05%; the Middle Atlantic 8.9%; the West North Central 5.2%, and the Pacific 4.2%.
The only regions to show an increase were West South Central, with a 1.6% rise, and Mountain, up 0.8%.
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