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More signs that jobs growth is cooling

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More signs that jobs growth is cooling

The Conference Board Employment Trends Index declines in March.

In a further sign that both the economy and labor market seem to be sluggish, advisory firm The Conference Board today announced that its Employment Trends index declined in March, falling from 127.77 in February to 127.65.

However, that still represents a 5.6% gain in the ETI compared to a year ago.

"That the likelihood of a slowdown in employment has increased."

"The growth in the Employment Trends Index slowed down in the first quarter of 2015," said Gad Levanon, Managing Director of Macroeconomic and Labor Market Research at The Conference Board. "The combination of the disappointing March employment report and the recent weakness in the ETI suggests that the likelihood of a slowdown in employment has increased. Even so, it is unlikely that job growth in the second quarter would fall much below the trend of 200,000 jobs per month."

In March, the negative contributions from Percentage of Firms with Positions Not Able to Fill Right Now, Ratio of Involuntarily Part-time to All Part-time Workers and Percentage of Respondents Who Say They Find "Jobs Hard to Get" more than offset positive contributions from the remaining five components.

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.

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