Home Business Employment Trends Index Positive

Employment Trends Index Positive

2202
0
Employment Trends Index
Employment Trends Index

The Conference Board Employment Trends Index™ (ETI) increased in September to 120.17, up from a downwardly revised 118.48 in August 2022. The Employment Trends Index is a leading composite index for employment. When the index increases, employment is likely to increase as well, and vice versa. Turning points in the index indicate that a turning point in the number of jobs is about to occur in the coming months.

“The ETI increased in September 2022, signaling that employment will continue to grow over the coming months,” said Frank Steemers, Senior Economist at The Conference Board. “However, job gains are likely to decelerate from their recent pace as the US economy has weakened as the Federal Reserve rapidly raises interest rates. In addition, most industries have recovered their pandemic-induced job losses, which is further bringing down the pace of hiring.”

Steemers added: “Some easing to labor shortages is expected as the demand for workers diminishes. However, recruitment and retention difficulties will not disappear as the unemployment rate is only projected to rise to around 4.5 percent in 2023 and labor supply remains challenged. In this environment, wage growth may also remain elevated. Companies will need to prepare for continued labor shortages and further improve their sourcing and retention strategies to remain competitive.”

September’s increase in the Employment Trends Index was driven by positive contributions from seven of eight components. From the largest positive contributor to the smallest, these were: Ratio of Involuntarily Part-time to All Part-time Workers, Initial Claims for Unemployment Insurance, Job Openings, Real Manufacturing and Trade Sales, Number of Employees Hired by the Temporary-Help Industry, Percentage of Respondents Who Say They Find “Jobs Hard to Get”, and Industrial Production.

The Employment Trends Index aggregates eight leading indicators of employment, 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 leading indicators of employment aggregated into the Employment Trends Index include:

  • Percentage of Respondents Who Say They Find “Jobs Hard to Get” (The Conference Board Consumer Confidence Survey®)
  • Initial Claims for Unemployment Insurance (U.S. Department of Labor)
  • Percentage of Firms With Positions Not Able to Fill Right Now (© National Federation of Independent Business Research Foundation)
  • Number of Employees Hired by the Temporary-Help Industry (U.S. Bureau of Labor Statistics)
  • Ratio of Involuntarily Part-time to All Part-time Workers (BLS)
  • Job Openings (BLS)*
  • Industrial Production (Federal Reserve Board)*
  • Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis)**

*Statistical imputation for the recent month
**Statistical imputation for two most recent months

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.

About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.

Employment Trends Index (ETI)™ 2022 Publication Schedule
Index Release Date (10 AM ET)Data for the Month
 Monday, February 7January 2022
 Monday, March 7February
 Monday, April 4March
 Monday, May 9April
 Monday, June 6May
 Monday, July 11June
 Monday, August 8July
 Tuesday, September 6*August
 Monday, October 10September
 Monday, November 7October
 Monday, December 5November
* Tuesday release due to holiday
© The Conference Board 2022. All data contained in this table are protected by United States and international copyright laws. The data displayed are provided for informational purposes only and may only be accessed, reviewed, and/or used in accordance with, and the permission of, The Conference Board consistent with a subscriber or license agreement and the Terms of Use displayed on our website at www.conference-board.org. The data and analysis contained herein may not be used, redistributed, published, or posted by any means without express written permission from The Conference Board.
COPYRIGHT TERMS OF USE
All material on Our Sites are protected by United States and international copyright laws. You must abide by all copyright notices and restrictions contained in Our Sites. You may not reproduce, distribute (in any form including over any local area or other network or service), display, perform, create derivative works of, sell, license, extract for use in a database, or otherwise use any materials (including computer programs and other code) on Our Sites (“Site Material”), except that you may download Site Material in the form of one machine readable copy that you will use only for personal, noncommercial purposes, and only if you do not alter Site Material or remove any trademark, copyright or other notice displayed on the Site Material. If you are a subscriber to any of the services offered on Our Sites, you may be permitted to use Site Material, according to the terms of your subscription agreement.
TRADEMARKS
“THE CONFERENCE BOARD,” the TORCH LOGO, “THE CONFERENCE BOARD EMPLOYMENT TRENDS INDEX,” and any other logos, indicia and trademarks featured on Our Sites are trademarks owned by The Conference Board, Inc. in the United States and other countries (“Our Trademarks”). You may not use Our Trademarks in connection with any product or service that does not belong to us nor in any manner that is likely to cause confusion among users about whether we are the source, sponsor, or endorser of the product or service, nor in any manner that disparages or discredits us.
Violators of these rights will be prosecuted to the full extent of the law. Nothing herein shall restrict the use of the information by news journalists using the information in a legitimate news publication or periodical.
Previous articleHUAWEI 5.5G
Next articleXT.COM has listed AIPC in the Innovation Zone(Defi)
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.