The Conference Board Employment Trends Index increased in July, following an increase in June. The index stands at 109.89, up from 108.72 in June. The change represents a 5.4 percent gain in the ETI compared to a year ago.
The July ETI points to continued strength in the economy and rapidly expanding employment, the researcher said.
“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,” said Gad Levanon, chief economist, North America, at The Conference Board.