Employment Trends Increase, Indicating a Continuation of Robust Hiring
A new report indicates that the strong hiring seen in the June jobs report should continue.
The Conference Board said its Employment Trends Index (ETI) increased in June, after decreasing in May. The index now stands at 108.94, up from 107.72 in May. The change represents a 5.2 percent gain in the ETI compared to a year ago.
\"As expected, after decreasing in May, the Employment Trends Index continued its solid path upwards in June, with positive contributions from all of its components,\" said Gad Levanon, Chief Economist, North America, at The Conference Board. \"The labor market will continue to tighten in the coming months, with strong employment growth outpacing the number of people entering the labor force.\"
The Employment Trends Index aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out \"noise\" to show underlying trends more clearly.
June\'s increase in the ETI was fueled by positive contributions from all eight components.