The Conference Board’s US employment trends index rose in January to a reading of 128.93 from December’s reading of 128.71, which was revised downward. The January reading is up 1.9% from the same month a year ago.  

“The Employment Trends Index rose for the second month in a row, reducing the likelihood of further slowing in employment growth,” said Gad Levanon, managing director of macroeconomic and labor market research at The Conference Board. “However, the temporary help industry component declined sharply in January, and because it is one of the best leading indicators of employment growth, we will monitor it closely in the coming months.”

January’s increase in the economic trends index was driven by positive contributions from five of the eight components, with the percentage of respondents who say they find “jobs hard to get,” the largest positive contributor.

The US Department of Labor on Friday reported the US added 151,000 jobs in January, but lost 25,200 temp jobs.