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The Conference Board employment trends index rose in August to a reading of 113.54, up from July's upwardly revised reading of 112.80. The August reading is up 4.5 percent from the same month a year ago.
“The growth of the employment trends index in recent months suggests that employment is likely to moderately expand through the fall,” said Gad Levanon, director of macroeconomic research at The Conference Board. “The rapid job growth in the first half of 2013 was faster than we had expected given weak economic activity and only moderate improvement in the [employment trends index]. The slowing down of employment in the past two months brings the six-month trend to a more sustainable rate.”