Daily News

View All News

Employment trends index’s growth turns negative; ‘no reason to worry for now’

September 09, 2019

The Conference Board’s Employment Trends Index edged down in August.

The decline was fueled by negative contributions from three of the eight components: Ratio of involuntarily part-time to all part-time workers, percentage of firms with positions not able to fill right now, and initial claims for unemployment insurance.

“In August, for only the second time since the financial crisis, the year-over-year growth in the Employment Trends Index turned negative. And indeed, job growth has clearly slowed in 2019,” said Gad Levanon, head of The Conference Board Labor Market Institute. “However, there is no reason to worry for now, since the stable behavior of the ETI is consistent with a slowdown in employment growth and is still far from indicating a decline in the number of jobs.”

Beyond economic growth, it is difficult to maintain strong employment growth in such a tight labor market, Levanon noted. “For the remainder of 2019, employment will continue growing at a more moderate but still healthy pace,” he said.

The index level now stands at a reading 110.62, almost unchanged from the downwardly revised reading of 110.72 in July. The decrease marks a 0.5% decline in the index over the past 12 months.

Comments

Add New Comment

Post comment

NOTE: Links will not be clickable.

ERS Antenna

ERS Antenna09/10/2019 05:49 am

Such a great blog! Worth read. Kudos :)


PDQ Staffing

PDQ Staffing09/10/2019 04:56 am

Such an informative and helpful article, thanks for sharing.


Total 2 comments