The Conference Board Employment Trends Index™ (ETI) Increased in March
Strong job growth expected over the coming months
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NEW YORK, April 5, 2021 /PRNewswire/ The Conference Board Employment Trends Index™ (ETI) significantly increased in March, after a small decrease in February. The index now stands at 102.44, up from 100.01 (a downward revision) in February. The index is currently up 7.7 percent from a year ago. The Employment Trends Index significantly increased in March and signals that job growth will be very strong over the coming months, said Gad Levanon, Head of The Conference Board Labor Markets Institute. Despite the recent increase in infection rates, the vaccination campaign is progressing at a rate that should significantly reduce the spread of the virus in the next couple of months. Labor intensive in-person services will continue to reopen, and consumers flush with cash due to a year of elevated savin
The Conference Board s Employment Trends Index - which forecasts employment for the next 6 months - significantly increased with the authors saying
The Employment Trends Index significantly increased in March and signals that job growth will be very strong over the coming months .
Analyst Opinion of Conference Board s Employment Index
Econintersect evaluates the year-over-year change of this index (which is different than the headline view) - as we do with our own employment index. The year-over-year index growth rate accelerated by 16.3 % month-over-month and a positive 7.5 % year-over-year. The Econintersect employment index is now in positive territory but now declining and we are predicting slowing growth over the next 6 months.
Provided by Dow Jones By Xavier Fontdegloria An index measuring employment trends in the U.S. rose significantly in March, suggesting that the recovery of the labor market is gaining steam, data from the Conference Board showed Monday. The Conference Board Employment Trends Index was 102.44 in March, up compared with a revised 100.01 in February. The index has been rising uninterruptedly for 11 months. The indicator is up 7.7% from a year ago, when the Covid-19 pandemic hit the economy and employment plunged. The release of the index follows Friday s employment report from the Bureau of Labor Statistics which showed U.S. labor market experienced the highest monthly job growth since last August, with nonfarm payrolls up by 916,000.
The Conference Board s Employment Trends Index - which forecasts employment for the next 6 months - improved with the authors saying
The economy is likely to add 5-6 million jobs through the end of the year, and the unemployment rate will drop well below 5 percent .
Analyst Opinion of Conference Board s Employment Index
Econintersect evaluates the year-over-year change of this index (which is different than the headline view) - as we do with our own employment index. The year-over-year index growth rate accelerated by 1.9 % month-over-month and a negative 7.9 % year-over-year. The Econintersect employment index is now in positive territory. The Conference Board index is predicting improving job growth 6 months from now. The bottom line is that I doubt you can forecast using traditional methods what employment will look like six months from today as we are living in a whole different world.
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