Labor trends index forecasts job growth

A monthly index tracking labor trends continues to rise, forecasting accelerating job growth.

The Conference Board reported that its Employment Trends Index advanced more than a point to 103.7 in November. The index has gained 6.4 percent over the past year.

Gad Levanon, an economist with the Conference Board, said increasing economic activity could lead to accelerating job growth in the beginning of 2012. “However, this improvement may be short lived, in particular as the U.S. economy slows down once again in the coming quarters,” he added.