U.S. employment index falls despite solid jobs report
Despite a stronger-than-expected jobs report on Friday, the Conference Board's Employment Trends Index, which follows every U.S. payrolls report, decreased in October, with negative contributions from seven of its eight components.
Why it matters: “The index suggests that job growth may slow down a little in the coming months,” said Gad Levanon, head of The Conference Board Labor Market Institute.
- “Leading indicators of employment are sending a slightly gloomier message than Friday’s stronger-than-expected jobs report. Still, with solid growth in consumer and government spending, and housing, the economy is likely to continue generating new jobs at a healthy rate, despite low business confidence,” Levanon said.