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Employment trends index: Growth slows

August 09, 2010

The Conference Board's U.S. employment trends index edged up to a reading of 97.0 in July from 96.7 in June.

"The growth rate of the employment trends index slowed sharply in the past three months, suggesting that employment growth will remain too weak to keep up with the increase in the working age population," said Gad Levanon, associate director of macroeconomic research at The Conference Board. "The disappointing employment numbers may indicate that the low levels of household spending and confidence are making businesses more cautious when it comes to hiring."