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Employment Trends Index falls slightly in February

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Employment Trends Index falls slightly in February

Lower employment growth expected.

The Conference Board Employment Trends Index dipped down in February. The index now stands at 129.09, down from and upwardly revised 129.15 in January. The change represents a 2.1% gain in the ETI compared to a year ago.

"The flatness of the Employment trends index since September suggests that the rapid job growth in recent months is likely to slow down," said Gad Levanon, Managing Director of Macroeconomic and Labor Market Research at The Conference Board.

"In particular, we are concerned about the temporary help industry component."

"In particular, we are concerned about the temporary help industry component, one of the most powerful leading indicators of employment growth, which has declined for the second month in a row in February."

February's decrease in the ETI was driven by negative contributions from five 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, Real Manufacturing and Trade Sales, Number of Employees Hired by the Temporary-Help Industry, and Industrial Production.

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