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Further Signs of Stronger Job Market

March 7 — The Conference Board Employment Trends Index (ETI) increased in February for the fifth consecutive month, The Conference Board reported today.

The report came on the heels of encouraging reports last week that the economy created 192,000 jobs last month and the unemployment rate declined to 8.9%

The ETI hit 101.7 in February, up from a revised January figure of 100.1. The Index is up more than 8% from one year ago, according to The Conference Board.

The ETI aggregates eight labor-market indicators, each of which has proven accurate in its own area. Seven of the eight components improved in February.

“In the past half year, the economy has been adding, on average, about 110,000 jobs per month," says Gad Levanon, associate director, macroeconomic research at The Conference Board. “The strong growth in the Employment Trends Index suggests that the pickup in jobs may accelerate in the next couple of quarters. However, with a shrinking government, a stagnant construction sector, and a manufacturing recovery that has only a small impact on overall employment, overall job growth will still be modest."

Read the complete Employment Trends Index news release.