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The Conference Board Employment Trends Index (ETI) increased in January, after increasing in December, according to the latest report from the Conference Board. The index now stands at 106.93, up from 106.59 (a downward revision) in December. The change represents a 5.4 percent gain in the ETI compared to a year ago.
“The Employment Trends Index continues its solid path upwards and shows no sign of slowing down,” said Gad Levanon, chief economist, North America, at The Conference Board. “A strong US economy provides additional tailwinds to employment growth, bringing down the unemployment rate even further and encouraging more men and women to join the labor force.”
January’s increase in the ETI was fueled by positive contributions from five out of the eight components. From the largest positive contributor to the smallest, these were: Percentage of Firms with Positions Not Able to Fill Right Now, Industrial Production, Initial Claims for Unemployment Insurance, Real Manufacturing and Trade Sales, and Number of Employees Hired by the Temporary-Help Industry.