Conference Board Employment Trends Index increased in MayChristian Fernsby ▼ | June 9, 2020
The Conference Board Employment Trends Index (ETI) increased in May, following sharp declines in March and April.
Increased U.S. unemployment
However, the index is down 57.9 percent from a year ago.
May's increase was fueled by positive contributions from seven of the eight components.
From the largest positive contributor to the smallest, these were: Job Openings, Initial Claims for Unemployment Insurance, Real Manufacturing and Trade Sales, the Percentage of Respondents Who Say They Find "Jobs Hard to Get," Industrial Production, the Ratio of Involuntarily Part-time to All Part-time Workers, and the Number of Employees Hired by the Temporary-Help Industry.
According to a recent survey by The Conference Board, many human resource executives at large companies say their organizations plan on laying off workers in the coming months.
By the end of 2020, the employment level in the US may still be 10 million below where it stood in February. ■