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The Conference Board Employment Trends Index (ETI) for the U.S. increased 4.8 percent in July to 133.8, up from 132.4 in June.
“Those who have been following The Conference Board’s Employment Trends Index are not surprised by the strong employment growth in June and July,” said Gad Levanon, chief economist, North America, at The Conference Board. “In July, the rapid improvement in the index continued, suggesting solid hiring and further tightening of the labor market in the months ahead.”
July’s increase in the ETI was fueled by positive contributions from all eight components. From the largest positive contributor to the smallest, these were: Percentage of Firms with Positions Not Able to Fill Right Now, Ratio of Involuntarily Part-time to All Part-time Workers, Industrial Production, Number of Employees Hired by the Temporary-Help Industry, Consumer Confidence “Jobs Hard to Get” Percentage, Real Manufacturing and Trade Sales, Job Openings and Initial Claims for Unemployment Insurance.