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Employment index points to more job losses

January 12 2009

The Conference Board's employment trends index fell in December, and the organization's senior economist said the U.S. could lose another 2 million jobs in 2009.

The index declined to a reading of 99.6 in December from November's revised reading of 101.2. Year-over-year, the reading is down almost 16%.

"During 2008, total nonfarm employment declined by more than 2.5 million and the sharp declines in the employment trends index suggest that in 2009 this number could grow by another 2 million," said Gad Levanon, senior economist at The Conference Board. "The continued deterioration in the employment trends index signals that no turnaround in the labor market is to be expected in the near future."


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