By Dave Sebastian 
 

An index measuring employment trend rebounded in November after declining the month before, according to a monthly report from the Conference Board.

The Conference Board Employment Trends Index rose to 110.18 from 109.96 in October. The increase marks a 0.1% gain in the ETI over the past 12 months.

The increase suggests "solid job growth will continue in the coming months," Gad Levanon, head of the Conference Board Labor Market Institute, said in prepared remarks. "Recently published indicators held on better than expected, suggesting that businesses are less cautious than expected and that economic growth will remain solid, despite a very tight labor market and declining corporate profits."

The index is based on eight indicators. Monday's report said November's increase was fueled by positive contributions from five of the eight components. Among the largest contributions came from the percentage of firms with positions not able to fill right now, the ratio of involuntarily part-time to all part-time workers and industrial production.

The Labor Department said Friday that U.S. employers added 266,000 jobs in November, the fastest pace since 312,000 in January, and the jobless rate dipped to 3.5%, matching September as the lowest level since 1969.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

December 09, 2019 10:32 ET (15:32 GMT)