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Employment trends index slips again

March 09, 2009

The Conference Board's employment trends index dropped 3.2% to a reading of 91.0 in February from its revised January reading of 94.0.

The index is also down 21.7% from a year ago.

"Over the past year, the employment trends index has declined faster than at any other time in its 35-year history, with the most severe decreases taking place since the Fall," said Gad Levanon, senior economist at The Conference Board. "As job losses persist, the drop in overall earnings makes a rebound in consumer spending unlikely for the next few months. The decline in employment will only moderate once companies anticipate some revival in domestic and global economic activity."