Help-Wanted Index Fell, Lowest Since 1982
Thursday November 29, 10:57 am Eastern Time
NEW YORK (Reuters) - An index measuring the number of jobs being offered across the United States fell in
October to its lowest level since 1982, another sign of weakness for the sputtering U.S. labor market, the Conference Board said on Thursday.
The private research group's Help Wanted Advertising Index fell to 46 in October from 52 in September, as the
sharp U.S. economic slowdown has led to mounting layoffs and a softening job market. The index stood at 78 in October 2000.
``The lack of new hiring and the rise in joblessness continues to sour consumer attitudes,'' said Ken Goldstein, an economist at the Conference Board. ``Without stronger consumer demand, many businesses will see no reason to hire more workers.''
The number of Americans to claim initial unemployment benefits rose by 54,000 in the latest week, to 488,000. Continuing claims rose by 301,000 to 4.02 million for the week ended Nov. 17, the largest one-week jump in 27 years.
The Conference Board surveys 51 major newspapers across the country about their patterns of help-wanted ads every month.
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