Help-Wanted Index Drops

ByJohn S. McClenahen Conference Board economist Ken Goldstein cautions against reading too much into the one point drop in the business research group's Help-Wanted Advertising Index between March and April. The April index, based on help-wanted advertising in 51 major U.S. newspapers, was 38, down from 39 in March. "The data on want-ad volume suggests the pace of hiring will moderate. Nevertheless, a return to a jobless expansion is not in the cards," states Goldstein. "The loss of one point in the index in each of the last two months is not consistent with any significant drop in labor market activity just around the corner."