The Conference Board indicated that its index of help-wanted advertising reversed its earlier improvement and fell to 26 from 27 in June.

The index had been elevated earlier this year off a 2006 low in November of 29.

During the last ten years there has been a 57% correlation between the level of help-wanted advertising and the three month change in non-farm payrolls.

The proportion of labor markets with rising want-ad volume moved in the opposite direction for the month, up to a still low 35.

In the Mid-Atlantic states the index of advertising fell to a record low of 16 while in the South Atlantic states it also fell to a record low of 15.

The Conference Board surveys help-wanted advertising volume in 51 major newspapers across the country every month.

The latest help wanted report from the Conference Board is available here.

The FOMC in 1978 from the Federal Reserve Bank of St. Louis is available here.