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06.05.2024

CB’s U.S. employment trends index declines 0.8 per cent in April

The Conference Board (CB) informed on Monday its employment trends index (ETI) for the U.S., a leading composite indicator for employment, fell by 0.8 per cent to 111.25 in April from a downwardly revised 112.16 (from 112.84) in March.

According to the report, last month’s decline in the ETI was due to negative contributions from 3 of its 8 components, including Percentage of Respondents Who Say They Find “Jobs Hard to Get,” Ratio of Involuntarily Part-time to All Part-time Workers, and Number of Employees Hired by the Temporary-Help Industry.

Commenting on the latest data, Will Baltrus, associate economist at the CB, noted that the ETI’s April fall indicates that employment growth could stall in the second half of 2024. “The ETI has been on a downward trajectory since its peak in March 2022, and this month signals a continuation of that trend,” he added.  “However, the Index remains historically elevated and is still above its prepandemic level, which suggests aggregate job losses are less likely than a slowdown in employment growth.”

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