Downward spiral for newspapers - 04/2001

Newspaper help-wanted ads, often used as benchmark for measuring the state of the economy, have taken a turn for the worse. Classified ads peaked last February, and after remaining steady in December, have continued on their downward spiral. According to the Conference Board, an economics trend-tracking company, the help-wanted index is down 14 points in nearly a year. Pennsylvania, Ohio, Illinois and Michigan - all manufacturing states - have been the hardest hit by the classified drought. With the amount of ads declining, analysts believe the labor slowdown is destined to last for months. Even the online classifieds, namely Monster.com, HotJobs.com and other job boards, report they've seen a shift in the balance of power. While the number of job posts has either remained steady or has fallen, the number of active jobseekers has gone up.

inq.philly.com