Labor index rebounds
An index tracking labor trends in the United States has rebounded following a partial federal government shutdown in October, signaling job growth in the months ahead.
The Conference Board reported that its Employment Trends Index rose more than 1.5 points to 115.21 in November. The index has advanced 5.3 percent over the past year.
A decrease in the index in October attributed to the shutdown was more than offset by the increase in November, said Gad Levanon, an economist with the Conference Board, a business research and membership association.
“Despite disappointing consumer demand growth in recent quarters, the ETI is still signaling solid employment growth in the months ahead,” Levanon said.
The ETI combines eight labor market indicators into one composite index. For November, all eight indicators advanced.