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.
Provided by Dow Jones By Xavier Fontdegloria An index measuring employment trends in the U.S. increased in February, suggesting that the recovery path of the labor market accelerated, data from the Conference Board showed Monday. The Conference Board Employment Trends Index was 101.01 in February, up compared with a revised 99.69 for January. February posts the 10th consecutive monthly increase for the index. The indicator is down 7.8% from a year ago, which was the last reading before the Covid-19 pandemic hit the job market. 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 fall, with nonfarm payrolls up by 379,000.
The Conference Board Employment Trends Index™ (ETI) Increased in February prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
The Conference Board Employment Trends Index™ (ETI) Increased in January
Uncertainty remains, but a stronger labor market recovery may occur by late spring
News provided by
Share this article
Share this article
NEW YORK, Feb. 8, 2021 /PRNewswire/ The Conference Board Employment Trends Index™ (ETI) increased in January, the ninth consecutive monthly increase since May of last year. The index now stands at 99.27, up from 98.55 (a downward revision) in December. The index is currently down 10.0 percent from a year ago. The Employment Trends Index has been increasing in recent months, with the largest contributing component being the number of jobs in the temporary help industry. Over the next few months, expect some uncertainty around job growth, especially if some potentially adverse COVID-19 developments manifest – namely, the rapid spread of more aggressive virus strains. On the upside, however, by spring we expect strong job growth to resume and continue throughout t