U.S. Job Creation Index hovers near post-recession high
Gallup's U.S. Job Creation Index (JCI), a measure of net hiring, was +32 for the month. This score is identical to the one in October 2015 and nearly matches the post-recession high of +33 in each of the past five months.
Gallup's JCI is a broad measure of the U.S. labor market based on full- and part-time workers' perceptions of hiring activity where they work.
The index gradually recovered and improved to new heights after bottoming out at -5 in February and April of 2009 amid the Great Recession, and has been fairly steady recently. Over the past two years, it has ranged between +27 and +33.
Gallup asks a random sample of employed U.S. adults each day whether their employer is hiring new people and expanding the size of its workforce, not changing the size of its workforce, or letting people go and reducing the size of its workforce.
Gallup computes the JCI by subtracting the percentage of employers letting workers go (11%) from the percentage bringing on new workers (43%), providing an indication of net hiring across all industry and business sectors.
Additionally, 41% of workers in October said their employer is not changing the size of its workforce. ■