The Conference Board's Help-Wanted Advertising Index, a key barometer of America's job market, edged up one point in January compared to the previous month and now stands at 38. The Index was 41 in January 2003.
"The economy continues to gain momentum in the first quarter, and the Leading Economic Indicators suggest the trend will carry into the second quarter of 2004," said Conference Board Economist Ken Goldstein "But consumers are starting to get a little more nervous about how much progress the labor market will make, as indicated by the widespread decline in consumer expectations in February. However, with want-ad volume inching higher through January, the signals are that labor market improvement is continuing to slowly develop."
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.