The Conference Board's latest help-wanted index, also released on Thursday, contributed to the tepid mood. The index fell a point to 37 from 38 in July. Help-wanted advertising volume has pretty much remained unchanged during the past six months. Overall economic momentum is no longer firing on all cylinders, ... And hiring intentions this summer are suggestive that companies may not increase hiring until the economy regains more solid footing.
More Quotes from Ken Goldstein:
Historically, job advertising drops off in the months of November and December. This online series does not have a long enough history to seasonally adjust the data. However, we know from The Conference Board's long running Help-Wanted Index for print ads, as well as the Federal Bureau of Labor Statistics' job vacancy index (JOLTS) that businesses typically decrease their recruitment in the last two months of the year. This seasonal November decline typically reflects the Thanksgiving holiday and a slowdown in recruitments after a seasonal upturn in the late summerearly fall. Year-end budget constraints may also play a role if funds are short for paid advertisements. Nationally, the downturn in new online ad volume the week before and the week of Thanksgiving more than offset the modest increases in the other weeks in November.Ken Goldstein
The labor market has been expanding throughout 1996, but in a very uneven pattern. Recent want-ad figures indicate that conservative hiring plans are keeping job growth below the rate of overall economic activity.
Ken Goldstein
This was a combination of both bad weather and the timing of when Easter fell, so it made the earlier period look better and this period look worse, ... When you wash these effects out, you essentially get the signal that consumption is not going like gangbusters, but at least it's reasonably strong.
Ken Goldstein
They're saying the economy stinks this summer, for whatever reason, but their anticipation is that it will turn for the better.
Ken Goldstein
Given that we're at least a couple of months away from turnaround in the labor market, the fact that consumer confidence is not doing much worse than treading water is actually a good-news story.
Ken Goldstein
Rising business costs and uncertainty in many companies about price hikes is a major consideration now in how fast the domestic economy can grow, especially in the second half of the year.
Ken Goldstein
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Based on Topics: Past Quotes, Summer QuotesBased on Keywords: cylinders, help-wanted, regains, suggestive, tepid
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