Tue Oct 8, 2019
Author: RV News Staff
Employment levels are projected to remain steady over the near term even as the pace of hiring slows, according to a report issued by the Conference Board.
The Conference Board’s Employment Trends Index for September shows a slight uptick to 110.97 compared to the August index, which was revised up to 110.73.
At that level, the employment index shows an increase of 0.7 percent since September 2018.
Although the latest figures are “consistent with a continued expansion of the labor market” the growth in jobs has clearly slowed over that period, the Conference Board Head of the Labor Market Institute Gad Levanon says.
On Friday, the federal Bureau of Labor Statistics released its monthly unemployment figures. As reported, there were 136,000 jobs created in September while the unemployment rate dropped to a level not seen since December 1969.
“Job creation remains strong enough to continue to tighten the labor market,” Levanon says. However, “the speed of hiring may slow a little in the coming months as a result of weakening business confidence and a tightening labor market.”
The employment index is an aggregation of eight reliable labor-market indicators. By aggregating these indicators, TCB’s index filters out “noise” to more clearly show underlying trends more clearly.
Among the Conference Board’s latest indicators:
• Consumer Confidence
- 9.1 points
• Employment Trends Index
+ 0.21 percent
• Help Wanted Online
+ 0.4 percent
• Leading Economic Index
• Measure of CEO Confidence
- 9.0 points
Founded in 1916, the Conference Board is a non-partisan, non-profit think tank that produces analytics and consults on global economies, the environment, corporate governance, HR and marketing and communications.