Conference Board Employment Index Ticks Up in October
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November 8 The Conference Board
Employment Trends Index (ETI) rose slightly last month, following a dip in September, according to the latest monthly report.
The index reached 98.1 in October, up from 97.3 in September. The index is up more than 10% versus a year ago.
"The improvement in the ETI in October suggests that negative job growth in the next quarter or two is very unlikely," said Gad Levanon, associate director, macroeconomic research at The Conference Board. "However, we forecast sluggish economic activity until mid 2011, at the earliest. Employment growth will likely remain weak in 2011."
October's increase was driven by positive contributions from six of the eight index components. Improving indicators included, Initial Claims for Unemployment Insurance, Number of Temporary Employees, Part-Time Workers for Economic Reasons, Job Openings, Industrial Production and Real Manufacturing and Trade Sales.
Read the complete ETI news release here.