Conference Board's Employment Trends Index Rose in November
By Maria Martinez
An index that measures U.S. employment trends increased slightly
in November, advancing steadily and suggesting that the labor
market's recovery gathered pace over the month.
The Conference Board Employment Trends Index rose to 114.49 in
November from a revised 113.03 in October, according to data
released Monday from The Conference Board.
The Conference Board indicator suggests a decent outlook for job
growth over the next several months, said Gad Levanon, head of The
Conference Board Labor Markets Institute.
The release of the index follows Friday's employment report from
the Bureau of Labor Statistics, which showed the U.S. labor market
added 210,000 jobs in November, missing expectations.
"November's disappointing payrolls growth may be an outlier
rather than a new trend," Mr. Levanon said. He added that this is
contingent on the emerging Omicron variant, which threatens to
extend Covid-19's effects on job growth beyond Delta.
The Conference Board projects the unemployment rate to approach
3.0% by the end of 2022, which would mark a 70-year low.
The increase in the headline index in November was driven by
positive contributions from six of the eight components it is
formed of, which are initial claims for unemployment insurance;
industrial production; the ratio of involuntarily part-time to all
part-time workers; job openings; the number of temporary employees;
and real manufacturing and trade sales.
The indicators which didn't contribute positively to the index
are the percentage of firms with positions not able to fill right
now and the percentage of respondents who say they find jobs hard
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
December 06, 2021 10:33 ET (15:33 GMT)
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