Job ads reflecting cooling labor market trends
Job advertisements experienced a moderate increase in May, although the growth rate was slower compared to April, as stated by The Conference Board-Lightcast Help Wanted OnLine Index.
The index showed a 1.7% rise in May compared to April, reaching a reading of 173.1 (July 2018 = 100). However, the monthly increase was smaller than the 3.7% surge observed between April and March.
Moreover, the index level in May indicated a 0.7% decline when compared to the same period last year.
This index serves as a measurement of changes in advertised online job openings over time, reflecting monthly employment trends throughout the United States. It aggregates the total number of available job ads each month, gathering data from over 50,000 online job domains, including traditional job boards, corporate boards, social media platforms, and smaller job sites catering to niche markets.
On Monday, The Conference Board released a report indicating a slight decrease in its Employment Trends Index for May, suggesting a cooling labor market in certain industries. The Employment Trends Index has been gradually declining since reaching its peak in March 2022, although it remains at relatively high levels.