Daily News

View All News

Index: U.S. job losses may return

October 12, 2010

Continued slow job growth remains the most likely trend, but chances of job losses are increasing, according to a reading of The Conference Board's U.S. employment trends index released today.

The index edged down in September to a reading of 97.0 from August's revised level of 97.3. September's reading is still up 9.3% from a year ago.

"While continued slow job growth remains the most likely scenario over the next several months, The Conference Board [employment trends index] suggests that the likelihood of another episode of job losses is increasing," said Gad Levanon, associate director of macroeconomic research at The Conference Board. "As employment lags changes in the economy, and with GDP growth forecasted to slow even further in early 2011, we may see negative job numbers next year."

U.S. nonfarm payrolls fell by 95,000 in September, the U.S. Bureau of Labor Statistics reported Friday. However, the loss was concentrated in government -- including 77,000 fewer Census positions. The U.S. added 64,000 private sector jobs.