U.S. Conference Board Employment Trends Index increased in March
The index now stands at 102.44, up from 100.01 (a downward revision) in February. The index is currently up 7.7 percent from a year ago.
March's increase was driven by positive contributions from seven of eight components. From the largest positive contributor to the smallest, the components were: Percentage of Respondents Who Say They Find "Jobs Hard to Get"; Initial Claims for Unemployment Insurance; Ratio of Involuntarily Part-time to All Part-time Workers; Real Manufacturing and Trade Sales; Industrial Production; Percentage of Firms With Positions Not Able to Fill Right Now; and Job Openings.
The Employment Trends Index is a leading composite index for employment. Turning points in the index indicate that a turning point in the number of jobs is about to occur in the coming months. 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. ■