5.4% gain YoY in the index
The Conference Board US employment trend index (ETI) for the month of July increased to 109.89 from 108.72 last month (revised). The change represents a 5.4% gain in the ETI compared to a year ago.
The July gain was fueled by positive contributions from all 8 components, with the
- ratio of involuntary part-time to all part-time workers,
- initial claims, and
- number of employees hired by temporary – help industry led the rise.
Lagging but still higher were:
- percentage of respondents who say they find jobs hard to get
- percentage of firms with positions not able to fill right now
The eight labor-market indicators aggregated into the Employment Trends Index include:
- Percentage of Respondents Who Say They Find "Jobs Hard to Get" (The Conference Board Consumer Confidence Survey®)
- Initial Claims for Unemployment Insurance (U.S. Department of Labor)
- Percentage of Firms With Positions Not Able to Fill Right Now (© National Federation of Independent Business Research Foundation)*
- Number of Employees Hired by the Temporary-Help Industry (U.S. Bureau of Labor Statistics)
- Ratio of Involuntarily Part-time to All Part-time Workers (BLS)
- Job Openings (BLS)**
- Industrial Production (Federal Reserve Board)*
- Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis)**
See the full report here
