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Employment Trends Index increased in October to 98.1
The Conference Board Employment Trends Index™ (ETI) increased in October, after a slight decline in September. The index now stands at 98.1, up from September’s revised figure of 97.3. The index is up over 10 percent from a year ago.
The improvement in the ETI in October suggests that negative job growth in the next quarter or two is very unlikely. However, we forecast sluggish economic activity until mid 2011, at the earliest. Employment growth will likely remain weak in 2011.
This month’s increase in the ETI was driven by positive contributions from six out of the eight components. The 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.
Posted: November 8, 2010 Monday 10:00 AM