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Employment Trends Index increased in June to 49.05
The Conference Board Employment Trends Index™ (ETI) increased in June, further stabilizing from sharp declines in recent months. The index now stands at 49.05, up from 45.27 (a downward revision) in May. However, the index is still down 54.8 percent from a year ago.
“The Employment Trends Index increased for the second consecutive month, but the virus’s recent proliferation threatens those gains and puts the US labor market’s future in an even more precarious position,” said Gad Levanon, Head of The Conference Board Labor Markets Institute. “In response to this resurgence, many governments have delayed or reversed their re-opening plans, which could lead to lower hiring. Given the possibility of less recruiting and the fact that layoff rates remain high, the upward trend in the number of jobs may not continue. The unemployment rate may plateau or even increase in the coming months.”
June’s increase was fueled by positive contributions from all eight components. From the largest contributor to the smallest, the components were: Initial Claims for Unemployment Insurance; the Number of Employees Hired by the Temporary-Help Industry; the Ratio of Involuntarily Part-time to All Part-time Workers; Industrial Production; the Percentage of Firms With Positions Not Able to Fill Right Now; the Percentage of Respondents Who Say They Find “Jobs Hard to Get;” Real Manufacturing and Trade Sales; and Job Openings.
Posted: July 6, 2020 Monday 10:00 AM