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Economic Update: Conference Board’s Employment Trends Index
The Conference Board’s Employment Trends Index fell 0.3% in September to a reading of 107.86 (from 108.23 in August). This market the third decline in the last four months.
The index now stands 5.4% higher than it was a year ago.
“In September, the Employment Trends Index declined for the third time in four months, suggesting that employment growth will weaken further in the fourth quarter,” said Gad Levanon, Director of Macroeconomic Research at The Conference Board. “The U.S. economy entered a soft patch in the spring and the result has been lackluster job growth, which is likely to continue through the first half of 2013.”
The Employment Trends Index aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out so-called “noise” to show underlying trends more clearly.
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