The Conference Board Employment Trends Index decreased in June, following an increase in May. The index now stands at 133.07, down slightly from 133.32 (a downward revision) in May. The change represents a 4.6 percent gain in the ETI compared to a year ago.
“Despite the June decline in the Employment Trends Index, job growth will remain strong in the coming months. The decline is small and comes after a series of large increases since early 2017,” said Gad Levanon, chief economist, North America, at The Conference Board. “Further job growth in the coming months will continue to tighten the labor market, and will likely result in further wage acceleration later this year.”
June’s decrease in the ETI was fueled by negative contributions from three of the eight components. In order from the largest negative 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, and Initial Claims for Unemployment Insurance.