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The Conference Board Employment Trends Index Increased in October
November 7, 2016 | The Conference BoardEstimated reading time: 1 minute
The Conference Board Employment Trends Index™ (ETI) increased again in October, after increasing in September. The index now stands at 128.97, up from 128.29 (a downward revision) in September. The change represents a 1.0% gain in the ETI compared to a year ago.
“The Employment Trends Index increased moderately in recent months, suggesting solid job growth will continue through early 2017,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “The moderation in the ETI’s pace of growth in recent months is typical, given the maturing of the labor market, and does not signal a significant slowdown in job growth.”
October’s improvement in the ETI was fueled by positive contributions from seven of the eight components. In order from the largest positive contributor to the smallest, these were: Percentage of Firms With Positions Not Able to Fill Right Now, Industrial Production, Number of Employees Hired by the Temporary-Help Industry, Job Openings, Percentage of Respondents Who Say They Find “Jobs Hard to Get,” Real Manufacturing and Trade Sales, and Ratio of Involuntarily Part-time to All Part-time Workers.
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.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
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