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The Conference Board employment trends index fell to a reading of 107.82 in November from its reading of 107.84 in October. A large negative contribution from initial claims for unemployment insurance drove the decline.
“The employment trends index remains weak and suggests that employment growth over the next several months is likely to slow again,” said Gad Levanon, director of macroeconomic research at The Conference Board. “Employment growth typically lags economic growth, and with the economy expected to decelerate in the current quarter and early 2013, a slowdown in employment won’t be far behind.”