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The Conference Board employment trends index rose in July to a reading of 112.16 from its upwardly revised reading of 111.67 in June. The July reading, the highest since June 2008, is up 4.1 percent from the same month a year ago.
“The Employment Trends Index continues to grow moderately, suggesting no major changes are expected in the pace of job growth,” said Gad Levanon, director of macroeconomic research at The Conference Board. “With economic activity remaining weak through the second quarter, solid employment growth continues to be a positive surprise. Jobs may grow faster in the coming quarters as the U.S. economy is likely to get stronger towards the end of 2014.”