Employment Trends Index Has Risen 5.4% in a Year
The Conference Board’s Employment Trends Index (ETI) grew to 111.61 in December from a downwardly revised 110.23 in November, first reported as 110.41, and is up 5.4% from a year ago, the group announced Monday.
This month’s report incorporates annual revisions of standardization factors.
The increasing indicators — from the largest contributor to the smallest — were: the percentage of firms with positions not able to fill right now, percentage of respondents who say they find “jobs hard to get”, the ratio of involuntarily part-time to all part-time workers, initial claims for unemployment insurance, industrial production, number of employees hired by the temporary-help industry, and real manufacturing and trade sales, according to the Conference Board.
The ETI aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out so-called “noise” to show underlying trends more clearly.