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The Conference Board Employment Trends Index (ETI) declined slightly in September, following a larger drop in August. The index now stands at 132.74, slightly down from 132.78 (a strong downward revision) in August. The change represents a 3.8% gain in the ETI compared to a year ago.
“Several components that led to the decline in the Employment Trends Index in August and September were impacted by hurricanes Harvey and Irma,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “The Employment Trends Index is expected to pick up again, signaling further employment growth and more wage pressures in the months ahead.”
September’s small decline in the ETI was mostly the result of a large increase in the Initial Claims for Unemployment Insurance component.
The Employment Trends Index aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out “noise” to show underlying trends more clearly.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. Winner of the Consensus Economics 2016 Forecast Accuracy Award (U.S.), The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.