Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SOURCE The Conference Board
Rebounds from shutdown-led drop in October to hit new five-year high
NEW YORK, Dec. 9, 2013 /PRNewswire/ -- The Conference Board Employment Trends Index™ (ETI) increased in November. The index now stands at 115.21, up from 113.64 (a downward revision) in October. The ETI figure for November is 5.3 percent higher than a year ago.
"Largely a reflection of the 16-day government shutdown, October's apparent decline in the Employment Trends Index was more than reversed by the large November increase," said Gad Levanon, Director of Macroeconomic Research at The Conference Board. "Despite disappointing consumer-demand growth in recent quarters, the ETI is still signaling solid employment growth in the months ahead."
November's increase in the ETI was driven by positive contributions from all eight of its components. From the largest positive contributor to the smallest, these were: Initial Claims for Unemployment Insurance, Percentage of Firms With Positions Not Able to Fill Right Now, Ratio of Involuntarily Part-time to All Part-time Workers, Industrial Production, Real Manufacturing and Trade Sales, Number of Temporary Employees, Consumer Confidence Survey® Percentage of Respondents Who Say They Find "Jobs Hard to Get," and Job Openings.
The Employment Trends Index aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out "noise" to show underlying trends more clearly.
The eight labor-market indicators aggregated into the Employment Trends Index include:
The Conference Board publishes the Employment Trends Index monthly, at 10 a.m. ET on the Monday that follows each Friday release of the Bureau of Labor Statistics Employment Situation report. The technical notes to this series are available on The Conference Board website: http://www.conference-board.org/data/eti.cfm.
*Statistical imputation for the recent month
**Statistical imputation for two most recent months
ABOUT THE CONFERENCE BOARD
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
©2012 PR Newswire. All Rights Reserved.