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Economy: Online job ads rebound in May, Nonmanufacturing index decelerates

June 03, 2015

In economic news, US online job ads rose in May, according to The Conference Board. However, the Institute for Supply Management’s nonmanufacturing index decelerated.

The Conference Board reported US online job ads were up by 83,100 in May to approximately 5.45 million. May’s increase follows a loss of 104,500 job ads in April.

“Following a very strong January and February, the growth in online vacancies has been basically flat over the past three months,” said Gad Levanon, managing director, macroeconomic and labor market research at The Conference Board. “Still, even with the recent three-month pause, the 2015 growth rate has significantly outpaced the 2014 growth rate during the same time period.”

Separately, the Institute for Supply Management reported its US nonmanufacturing index expanded in May with a reading of 55.7, but at a slower pace than in April with its reading of 57.8. Readings above 50 indicate growth.

Dow Jones Business News reports troubles in the mining sector may have contributed to the deceleration.

The employment portion of the index fell to a reading of 55.3 in May from April’s reading of 56.7.