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Employment index for July points to robust economy, tight labor market

August 06, 2018

The Conference Board’s US Employment Trends Index rose 5.4% year over year in July to a reading of 109.89. Growth in the index, which measures eight labor market indicators, remains robust.

“The growth in the Employment Trends Index remains strong, supported by positive contributions from all of its components,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “We expect economic activity to remain strong in the coming months, and the rapid expansion of employment should continue despite the very tight labor market.”

The Employment Trends Index is released on the Monday following the US Bureau of Labor Statistics’ release of its monthly employment situation report. This past Friday’s report found that the number of temp help services jobs in the US rose by 3.3% year over year in July. The number of employees hired by the temporary help industry is one of the eight measures tracked in The Conference Board’s Employment Trends Index.

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