Job ads rose in May but at a slower pace than in April, according to The Conference Board-Lightcast Help Wanted OnLine Index.

The index rose by 1.7% in May from April to a reading of 173.1 (July 2018 = 100). However, the month-over-month gain was smaller than the 3.7% increase between April and March.

In addition, the index level in May was down 0.7% year over year.

The index measures changes over time in advertised online job vacancies, reflecting monthly trends in employment across the US. It aggregates the total number of ads available by month. Data is collected from more than 50,000 online job domains, including traditional job boards, corporate boards, social media sites and smaller job sites that serve niche markets.

On Monday, The Conference Board reported its Employment Trends Index had edged downward in May and the labor market is cooling in certain industries. The Employment Trends Index has been slowly declining since reaching a peak in March 2022, though it remains at elevated levels.

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