Labor index rises
A monthly index tracking labor trends continues to rise, projecting moderate job growth.
The Conference Board reported that its Employment Trends Index climbed to 108.04 in April, up eight-tenths of a percent from March and 7.1 percent from this time last year.
“The growth in the Employment Trends Index in recent months is signaling moderate improvements in employment,” said Gad Levanon, an economist with the Conference Board, a business research and membership group.
“The disappointing job gain in April (115,000) is probably below the current trend and should pick up to about 150,000-175,000 jobs a month through the summer,” Levanon said.
The Employment Trends Index aggregates eight labor market indicators into a single composite index. For April, five of the indicators advanced.