Report: Employment Trends Index increases 8% year-over-year
New York City -- The Conference Board’s Employment Trends Index, released Monday, increased in February for the fifth consecutive month.
According to the Conference Board, the index now stands at 101.7, up from January’s revised figure of 100.1. The index is up over 8% from a year ago.
“In the past half year, the economy has been adding, on average, about 110,000 jobs per month,” said Gad Levanon, associate director, macroeconomic research at The Conference Board. “The strong growth in the Employment Trends Index suggests that the pickup in jobs may accelerate in the next couple of quarters. However, with a shrinking government, a stagnant construction sector, and a manufacturing recovery that has only a small impact on overall employment, overall job growth will still be modest.”