To: jlallen who wrote (449692 ) 8/28/2003 1:59:29 PM From: Hope Praytochange Respond to of 769670 Signs of job growth slow in coming the Conference Board said its Help Wanted Index, which is compiled by surveying help-wanted ad volume at 51 newspapers across the country remained unchanged in July at 38. The Conference Board's economist Ken Goldstein said, "Job advertising volume has stopped declining, although it remains at very low levels." Mr. Goldstein added that the modest increase found in June's 38 reading and July's stability at 38 hints "the labor market may finally be hitting a bottom." And "hitting a bottom" would be the operative word as the Department of Labor Statistics reported its July Mass Layoffs statistics showing larger employers continued to trim staffing and initiated 2,087 layoff actions in July as measured by new filings for unemployment insurance benefits during the month. The Mass Layoff report only considers at least 50 persons from a single establishment, which gives economists and investors a view of larger business establishment. The monthly data series is taken for a given month, and does not differentiate on the duration of the layoffs. The July data showed the automotive sector showing the largest number of layoffs among the top 10 sectors, while Industry data showed the broader manufacturing sector, which would encompass the automotive sector accounted for 45% of all mass layoff events and 60% of all initial jobless claims filed in July. The number of initial claimants in mass layoffs declined over the year in three of the four regions, with the largest decrease in the West (-19,224). The Midwest had the only over-the-year increase (+12,465). Eight of the nine geographic divisions had over-the-year decreases in the number of initial claims associated with mass layoffs, with the largest declines in the Pacific (-16,921). The East North Central division had the only increase (+13,007). California, which has the largest population of workers in the U.S. recorded the largest number of initial claims filed in mass layoff events this July, 37,033, mostly in administrative and support services and in educational services. The automotive breadbasket of the U.S. had Michigan reporting 21,647 initial claims, followed by Indiana (18,688) and Ohio (17,086). These four states accounted for 44% of all layoff events and 42% of initial claims for unemployment insurance. California reported the largest over-the-year decrease in the number of initial claims (-15,523). The largest over-the-year increases occurred in Indiana (+7,321), Georgia (+7,011), and Michigan (+5,947).