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KEY JOB BAROMETER HOLDS STEADY
| The Conference Board's Help-Wanted Advertising Index, a key barometer of the U.S. job market, was 37 in September, unchanged from August. The Index stood at 43 in September 2002. In the last three months, help-wanted advertising declined in eight of the nine U.S. regions, with the steepest declines occurring in the Mountain (-14.6%), West North Central (-12.1%), South Atlantic (-9.4%) and New England (-7.9%) regions. "The labor market is no longer declining, with want-ad volume at the same level since June and initial unemployment claims inching down," said Conference Board Economist Ken Goldstein. "While employment gains have been scant, the number of layoffs has slowed. An advancing economy and a sustained increase in the demand for goods and services will generate more demand for labor. If the economy stays on its current growth path, a better job market should start to develop over the next six months." |