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Conference Board: Employment Trends Index increases in June

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Conference Board: Employment Trends Index increases in June

Solid employment growth expected through the summer.

The Conference Board Employment Trends Index increased slightly in June, rising to 129.11, up from 128.47 (a downward revision) in May. The change represents a 4.8% gain in the ETI compared to a year ago.

"The growth in the Employment Trends Index accelerated in Q2, suggesting strong job growth through the summer," said Gad Levanon, Managing Director of Macroeconomic and Labor Market Research at The Conference Board. "The combination of solid job growth and nearly flat labor force growth should lower the unemployment rate to 5% by year end."

June's increase in the ETI was driven by positive contributions from seven of the eight components. In order from the largest positive contributor to the smallest, these were: Ratio of Involuntarily Part-time to All Part-time Workers, Consumer Confidence "Jobs Hard to Get," Industrial Production, Real Manufacturing and Trade Sales, Number of Employees Hired by the Temporary-Help Industry, Job Openings, and Initial Claims for Unemployment Insurance.

 

 

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