Labor index signals accelerating job growth
A monthly index tracking labor trends has advanced for a fourth straight month, signalling accelerating job growth.
The Conference Board reported that its Employment Trends Index (ETI) rose two-tenths to 100.5. The index has climbed 7 percent over the last year.
“We expect larger numbers of jobs to be added back into the economy in coming months,” said Gad Levanon, associate director of macroeconomic research at the Conference Board, a business research and membership group.
The ETI aggregates eight labor market indicators into one composite index. For January, four of the eight indicators advanced, while one indicator held steady.