A monthly index tracking labor trends slipped in July, forecasting slower job growth in the months ahead.
The Conference Board reported that its Employment Trends Index fell to 100.6 in July, down three-tenths from a revised 100.9 in June. The ETI remains 4 percent higher than a year ago, however.
Gad Levanon, an economist with the Conference Board, said the ETI has declined in three of the past four months, signaling job growth of less than 100,000 a month through the end of 2011.
For July, declines in three of eight components drove down the ETI.