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08.04.2024

CB’s U.S. employment trends index jumps 0.9 per cent in March

The Conference Board (CB) informed on Monday its employment trends index (ETI) for the U.S., a leading composite indicator for employment, climbed by 0.9 per cent to 112.84 in March from a downwardly revised 111.85 (from 112.29) in February. 

According to the report, last month’s advance in the ETI was due to positive contributions from 5 of its 8 components, including Percentage of Respondents Who Say They Find “Jobs Hard to Get”, Ratio of Involuntarily Part-time to All Part-time Workers, Industrial Production, Real Manufacturing and Trade Sales, and Job Openings.

Commenting on the latest data, Will Baltrus, associate economist at the CB, noted that the ETI’s March increase signalled employment will continue to grow in the second quarter of 2024. “Although the ETI has been on a downward trajectory since its peak in March 2022, this trend has decelerated since August 2023, with monthly oscillations between modest increases and modest decreases,” he added. “However, the Index remains above its pre-pandemic level and is still consistent with continued employment growth.”

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