The Conference Board’s US Employment Trends Index rose in July to a reading of 133.77 from June’s downwardly revised reading of 132.42. Data indicates more strong job gains going forward.

“Those who have been following The Conference Board’s Employment Trends Index are not surprised by the strong employment growth in June and July,” said Gad Levanon, chief economist, North America, at The Conference Board. “In July, the rapid improvement in the index continued, suggesting solid hiring and further tightening of the labor market in the months ahead.”

The Employment Trends Index is based on eight labor market indicators, and July’s increase was fueled by positive contributions from all eight components. From the largest positive contributor to the smallest, these were:

1. Percentage of firms with positions not able to be filled right now from research by the National Federation of Independent Business Research Foundation.
2. Ratio of involuntarily part-time to all part-time workers tracked by the Bureau of Labor Statistics.
3. Industrial production as tracked by the Federal Reserve board.
4. Number of employees hired by the temporary-help industry as tracked by the US Bureau of Labor Statistics.
5. The percentage of respondents who say they find “jobs hard to get” in The Conference Board’s consumer confidence survey.
6. Real manufacturing and trade sales as tracked by the US Bureau of Economic Analysis.
7. Job openings tracked by the Bureau of Labor Statistics.
8. Initial unemployment claims for the US Department of Labor

Separately, the US Department of Labor on Friday reported the US added 209,000 jobs in July and temp jobs rose by 14,700.