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Employment Trends Index Increased in April to 108.08
The Conference Board Employment Trends Index™ (ETI) increased in April, after increasing in March. The index now stands at 108.08, up from 107.37 (a downward revision) in March. The change represents a 4.9 percent gain in the ETI compared to a year ago.
“In recent months, the Employment Trends Index continued to improve, signaling that employment growth will remain solid through the summer,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “With the economy growing well above trend, and the working-age population barely growing at all, we expect the labor market to significantly tighten in the coming year. At 3.9 percent, the unemployment rate is historically low, and we expect it to be around 3.5 percent a year from now.”
April’s increase in the ETI was fueled by positive contributions from seven out of the eight components, with one component’s contribution being neutral. From the largest positive contributor to the smallest, these were: Industrial Production, Initial Claims for Unemployment Insurance, Percentage of Respondents Who Say They Find “Jobs Hard to Get,” Job Openings, Real Manufacturing and Trade Sales, Number of Employees Hired by the Temporary-Help Industry, and Ratio of Involuntarily Part-time to All Part-time Workers. The Percentage of Firms With Positions Not Able to Fill Right Now made a neutral contribution.
Posted: May 7, 2018 Monday 10:00 AM