The Conference Board’s US employment trends index increased in November to a reading of 123.24, up from October’s downwardly revised reading of 122.8. The November reading is up 6.1 percent from the same month a year ago.

“The employment trends index increased for the 11th straight month in November, and recent solid improvements suggest that strong job growth is likely to continue into early next year,” said Gad Levanon, director of macroeconomic research at The Conference Board. “We will probably reach the natural rate of unemployment, 5.5 percent, within a few months, and these tighter labor market conditions should lead to acceleration in wage growth.”