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Meanwhile, the help wanted index of vacancies has hit a new 58-year low.
While the pace of hiring has slowed, the "probability of finding a job" and the Conference Board's Help Wanted Index are by a large margin at their lowest levels in 60 years.
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The Conference Board's Online Help-wanted Index suggests that monthly job demand dropped 100K in March, down 31% year over year.
Finally, Daly et al. (2012) indicate that a longer series to estimate the Beveridge Curve, like the one they construct using the Help-Wanted Index to go back to the 1960s, shows that the shift in the Beveridge Curve observed in the current cycle is within the range of what occurred in past business cycles.
But the Conference Board's Online Help-wanted Index may show signs of hope in the economy, reporting that monthly job demand dropped 131,000 in April, down 28% year over year, compared to the 31% year over year decline in March.
Help wanted.
Sidebars: Help Wanted.
(See related story Help wanted).
TORONTO: Help wanted: Seeking pitcher.
e) Help Wanted?
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