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Conference Board ETI rises for a second straight month in August
The Employment Trends Index climbed 2.0% year over year, and the share of workers reporting involuntary part-time fell to 16.2% from 17.4%.
The Conference Board said its Employment Trends Index, a composite view of labor market conditions that draws on publicly available data, increased for a second consecutive month in August. The index is now up 2.0% from its level a year earlier, according to the organization.
Conference Board data scientists said the month-to-month picture was mixed in August, but all eight components produced positive average contributions over the past six months, suggesting support for continued job growth following nonfarm payroll growth of 162,000 in August.
The largest positive contributions came from improvements in two areas tied to underemployment and perceived job availability. The ratio of involuntarily part-time to all part-time workers fell to 16.2% in August from 17.4% in July, while the share of consumers saying jobs are hard to get declined to 19.5% from a revised 21.7% in July.