Employment Trends Index Shows Continued Strong Labor Markets
April 10, 2017 •
The Conference Board calculates its Employment Trends Index™ (ETI) aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index, which has steadily increased over the past years, reflecting improving labor markets. The index now stands at 131.39 in February, up from 129.91 in January 2017 and 127.5 in February 2016.
As Figure 1 shows, this indicator has steadily risen over the past several years, and is up more than 20% since 2010 (the index year), reflecting overall strong job growth in the U.S. economy.
The eight labor-market indicators that the Conference Board aggregates 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 (U.S. Bureau of Labor Statistics)
- Job Openings (U.S. Bureau of Labor Statistics)
- Industrial Production (Federal Reserve Board)
- Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis)
Contact ACA’s Allen Irish for more information.