Conference Board Employment Index Improves for Second Consecutive Month
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December 6 The employment picture improved in November for a second month in a row, according to the Employment Trends Index (ETI) from The Conference Board.
The Index was in contrast to the employment figures reported on Friday by the U.S. Bureau of Labor Statistics (BLS)
which were well below expectations.
The ETI rose to 99.0 in November, up from a revised 97.6 in October. The Index is up 9.3% from one year ago.
"The disappointing employment numbers released last Friday are at odds with most of the leading indicators included in the Employment Trends Index," said Gad Levanon, associate director, macroeconomic research at The Conference Board. "While we are not expecting economic activity or employment to grow rapidly anytime soon, we do expect employment to continue to moderately increase, following the trend of recent months," he added.
The November increase in the ETI was driven by positive contributions from seven out of the eight components. The improving indicators included Initial Claims for Unemployment Insurance, Percentage of Firms With Positions Not Able to Fill Right Now, Number of Temporary Employees, Part-Time Workers for Economic Reasons, Job Openings, Industrial Production and Real Manufacturing and Trade Sales.
For more information about the ETI and the full Conference Board News Release, click here.