U.S. Job Creation Index holds steady at post-recession high
Gallup's Job Creation Index, a measure that began in January 2008, now stands at +33, the same as in May, June and July.
The latest results, based on interviews conducted August 1-31 with 17,894 full- and part-time U.S. workers, continue a pattern seen over the past 19 months, during which the index never dipped below +29.
Gallup asks a random sample of employed adults each day whether their employer is hiring new people and expanding the workforce, not changing the workforce, or letting people go and reducing the size of the workforce. In August, 44% of workers reported an increase and 11% a decrease, resulting in the Job Creation Index score of +33.
Since the index bottomed out at -5 in early 2009 in the midst of the nation's economic crash, it has taken a slow, bumpy path upward, with numerous minor downticks from month to month.
However, every August reading since 2010 has shown improvement over the previous August.
The near-negligible one-point improvement this August from last August's +32 is the smallest since the index began its climb. ■