Notizie economiche
11.03.2024

CB’s U.S. employment trends index drops 0.8 per cent in February

The Conference Board (CB) informed on Monday its employment trends index (ETI) for the U.S., a leading composite indicator for employment, dropped by 0.8 per cent to 112.29 in February from a downwardly revised 113.18 (from 113.71) in January. This marked the first decrease in the ETI in three months.

According to the report, last month’s fall in the ETI was due to negative contributions from 4 of its 8 components, including Percentage of Respondents Who Say They Find “Jobs Hard to Get”, Percentage of Firms with Positions Not Able to Fill Right Now, Number of Employees Hired by the Temporary-Help Industry, and Initial Claims for Unemployment Insurance.

Commenting on the latest data, Will Baltrus, associate economist at the CB, noted that the ETI had been trending downward since hitting a peak in March 2022. “While the Index is still elevated compared to its pre-pandemic level and the economy has continued to add jobs through February 2024, the labour market is likely to cool off, with modest job gains expected through Q3 and Q4 of 2024,” he added.

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