The Conference Board Employment Trends Index (ETI) Dropped in June


Reading time ( words)

The Conference Board Employment Trends Index (ETI) declined in June, following an increase in May. The index now stands at 109.51, down from 111.22 (a downward revision) in May. The decrease marks a 0.6 percent gain in the ETI over the past 12 months.

“The Employment Trends Index experienced a big drop in June, but this was primarily driven by a large negative contribution from one component—an increase in the percentage of respondents who say they find ‘Jobs Hard to Get’ in The Conference Board’s Consumer Confidence Survey,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “This marks the fourth largest monthly negative contribution in the series history, which is potentially the result of noise rather than a more significant signal. We therefore interpret this month’s large decline in the ETI with caution. With the US economy slowing a little, but still projected to remain above its 2% long-term trend, we expect job growth to remain strong enough to continue tightening the labor market and draw more people off the sidelines.”

June’s decrease was fueled by negative contributions from three of the eight components. From the largest negative contributor to the smallest, these were: Percentage of Respondents Who Say They Find “Jobs Hard to Get,” Initial Claims for Unemployment Insurance, and Percentage of Firms With Positions Not Able to Fill Right Now.

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 the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.

Share

Print


Suggested Items

Uncertainties in the Market Rise while a Bounce in NAND Flash Prices Remains Unlikely in 3Q

06/20/2019 | TrendForce
According to the latest investigations by DRAMeXchange, a division of TrendForce, demand for smartphones and servers go below expected levels in 2019 as the US-China trade dispute heats up.

NASA Awards Artemis Contract for Lunar Gateway Power, Propulsion

05/27/2019 | NASA
In one of the first steps of the agency’s Artemis lunar exploration plans, NASA announced the selection of Maxar Technologies, formerly SSL, in Westminster, Colorado, to develop and demonstrate power, propulsion and communications capabilities for NASA’s lunar Gateway.

DARPA Program Aims to Extend Lifetime of Quantum Systems

01/19/2018 | DARPA
Whether it is excited electrons emitting photons in a lightbulb or the vibrational frequency of atoms in an atomic clock, quantum phenomena are simultaneously fundamental aspects of nature and the basis of current state-of-the-art and future technologies.



Copyright © 2019 I-Connect007. All rights reserved.