The Conference Board’s US Employment Trends Index rose in August to a reading of 134.62 from July’s downwardly revised reading of 133.60. Data indicates solid job growth going forward.

The August reading is up 5.6% from the same month a year ago.

“The rapid growth in the Employment Trends Index continued in August, suggesting solid job growth in the months ahead,” said Gad Levanon, chief economist, North America, at The Conference Board. “While Friday’s job numbers were slightly disappointing, the [Employment Trends Index] does not provide any indication of slowing employment growth.”

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

1. The percentage of respondents who say they find “jobs hard to get” in The Conference Board’s consumer confidence survey
2. Industrial production as tracked by the Federal Reserve board
3. Real manufacturing and trade sales as tracked by the US Bureau of Economic Analysis
4. Initial unemployment claims for the US Department of Labor
5. Ratio of involuntarily part-time to all part-time workers tracked by the Bureau of Labor Statistics
6. Number of employees hired by the temporary-help industry as tracked by the US Bureau of Labor Statistics

Separately, the US Department of Labor on Friday reported the US added 156,000 jobs in August and temp jobs edged up by only 100.