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Employment trends index rises, ‘no slowdown visible’

June 05, 2017

The Conference Board’s US Employment Trends Index increased in May to a reading of 133.70 from April’s upwardly revised reading of 132.77. The May reading, which followed a sharp increase in April, is up 6.4% from the same month a year ago.

“While employment numbers have shown some softness in the past three months, there is no slowdown visible in the Employment Trends Index, suggesting solid job growth over the summer,” said Gad Levanon, chief economist, North America, at The Conference Board. “Employment will likely grow fast enough to continue tightening the labor market.”

Positive contributions from seven of the eight components fueled May’s increase. The percentage of respondents who say they find “jobs hard to get” was the largest positive contributor, followed by the ratio of involuntarily part-time to all part-time workers and initial claims for unemployment insurance, respectively.

The US Department of Labor on Friday reported the US added 138,000 jobs in May and temp jobs rose.