New York, April 6 -- The Conference Board Employment Trends Index fell again in March. The index, which tracks labor market employment trends, now stands at 90.1, decreasing 2.3 percent from the February revised figure of 92.2, and down 22.1 percent from a year ago.
“While we see a continued sharp fall in the ETI, the decline was not as strong as in the previous four months, suggesting that the most intense stage of job losses may be behind us,” said Gad Levanon, Senior Economist at The Conference Board. “However, the drops in each of the eight components of the ETI in March signal that many more jobs will disappear over the next several months.”
The 20-month-long decline in the Employment Trends Index is seen in all eight of its labor market components, most notably over the past six months in temporary-help hires and part-time workers for economic reasons.
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 so-called “noise” to show underlying trends more clearly.
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.
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For over 90 years, The Conference Board has created and disseminated knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. The Conference Board operates as a global independent membership organization working in the public interest. It publishes information and analysis, makes economics-based forecasts and assesses trends, and facilitates learning by creating dynamic communities of interest that bring together senior executives from around the world. The Conference Board is a not-for-profit organization and holds 501(c)(3) tax-exempt status in the United States. For additional information about The Conference Board and how it can meet your needs, visit our website at conference-board.org