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The Conference Board’s employment trends index fell in October to a reading of 113.65, down from September’s downwardly revised reading of 114.68. However, the October reading is still up 4.9 percent from the same month a year ago.
“Like many other economic indicators, the October decline of the employment trends index was partially due to the government shutdown,” said Gad Levanon, director of macroeconomic research at The Conference Board. “The latest job numbers do in fact show some strengthening in the employment trend. But as domestic demand was weaker than expected in the third quarter, we might see some moderation in employment growth in the coming months.”