The Conference Board employment index increased in AprilStaff writer ▼ | May 11, 2016
The Conference Board Employment Trends Index (ETI) increased in April, after decreasing in March.
Trends The ETI now stands at 128.28
"Despite the April bounce back in the Employment Trends Index, its growth has slowed in recent months, suggesting that job growth will also slow," said Gad Levanon, chief economist, North America, at The Conference Board.
"Employers have become more cautious as economic growth remains moderate and profits decline. Looking ahead, we anticipate job growth will remain below 200,000 a month."
April's increase in the ETI was driven by positive contributions from all eight components.
In order from the largest positive contributor to the smallest, these were: the Percentage of Firms With Positions Not Able to Fill Right Now, Percentage of Respondents Who Say They Find "Jobs Hard to Get," Initial Claims for Unemployment Insurance, Ratio of Involuntarily Part-time to All Part-time Workers, Industrial Production, Real Manufacturing and Trade Sales, Job Openings, and the Number of Employees Hired by the Temporary-Help Industry.
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 "noise" to show underlying trends more clearly. ■