Labor index advances
A monthly index tracking labor trends continues to rise and forecast job growth in the months ahead.
The Conference Board reported that its Employment Trends Index climbed to 104.32 in December, up 4.7 percent over the same month last year.
“Job growth is picking up some steam in the U.S.,” said Gad Levanon, an economist with the Conference Board, a business research and membership group. However, Levanon doesn’t believe that growth will remain as robust as it was in December, when nonfarm payrolls grew 200,000.
For December, six of eight components of the index advanced.