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Employment index slips, may yet hit bottom

July 06, 2009

The Conference Board's U.S. employment trends index slipped 0.8% in June to a reading of 88.4 from May's revised number of 89.1. The index is still down 21.6% from a year ago.

"Compared to the beginning of the year, the decline in the employment trends index has significantly moderated, and we therefore expect job growth to resume around the end of the year," said Gad Levanon, senior economist at The Conference Board. "However, over the last month, leading indicators of employment were mostly disappointing, suggesting the employment trends index is still seeking a bottom."

The employment trends index aggregates eight labor market indicators into a composite index.