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The Conference Board Employment Trends Index (ETI) increased in March, after increasing in February. The index now stands at 107.72, up from 107.31 (a downward revision) in February. The change represents a 5.5% gain in the ETI compared to a year ago.
"The ETI continued its upward trend in March, suggesting that job growth will remain robust in the coming months," said Gad Levanon, Chief Economist, North America, at The Conference Board. "We interpret Friday's disappointing job numbers as noise in an otherwise fast-growing labor market."
March'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: Ratio of Involuntarily Part-time to All Part-time Workers, Industrial Production, Percentage of Firms With Positions Not Able to Fill Right Now, Percentage of Respondents Who Say They Find "Jobs Hard to Get," and Real Manufacturing and Trade Sales.
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.