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Employment Trends Index declines in March

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Employment Trends Index declines in March

Lower employment growth expected.

The Conference Board Employment Trends Index declined approximately 1% in March, after decreasing slightly in February. The change represents a 1.1% gain in the ETI compared to a year ago.

"With GDP barely growing at a two percent rate, it's difficult to see how employment can continue to expand by 200,000 or more jobs per month."

"The Employment Trends Index has been showing signs of weakening in recent months, suggesting that employment growth is likely to slow through the summer," said Gad Levanon, Chief Economist, North America, at The Conference Board.

"With GDP barely growing at a two percent rate, it's difficult to see how employment can continue to expand by 200,000 or more jobs per month."

March's decrease in the ETI was driven by negative contributions from four of the eight components. In order from the largest negative contributor to the smallest, these were: the Percentage of Respondents Who Say They Find "Jobs Hard to Get," Percentage of Firms With Positions Not Able to Fill Right Now, Ratio of Involuntarily Part-time to All Part-time Workers, and Initial Claims for Unemployment Insurance.

 

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