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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: CalculatedRisk	9/30/2004 10:04:06 AM
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Help-Wanted Index is unchanged September 30, 2004 The Conference Board’s Help-Wanted Advertising Index – a key barometer of America's job market – was unchanged in August. The Index remains at 37. It was 37 one year ago. In the last three months, help-wanted advertising declined in all nine U.S. regions. Steepest declines occurred in the New England (-10.4%), Pacific (-8.9%), West North Central (-8.4%) and East North Central (-7.5%) regions. Says Conference Board Economist Ken Goldstein: “The labor market remains flat and it is beginning to sap consumer confidence. The Coincident Economic Indicator (a measure of where the economy is right now) edged higher in July and August, suggesting an economy that is growing but not fast enough to create significant numbers of new jobs. Meanwhile, the Leading Economic Index fell in August for the third straight month, indicating a loss of economic momentum going forward. With economic questions being raised about consumption and exports, plus cost considerations (beyond the elevated price of oil), business executives have turned cautious about hiring, as reflected by the flat trend in want-ad volume.” 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. conference-board.org

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