Conference Board Indicator Ticks Up Fourth Consecutive Month
NEW YORK, Feb. 7, 2011 /PRNewswire/ — The Conference Board Employment Trends Index™ (ETI) increased in January for the fourth consecutive month. The index now stands at 100.5, up from December’s revised figure of 100.3. The index is up 7 percent from a year ago.
Says Gad Levanon, Associate Director, Macroeconomic Research at The Conference Board: “Despite anemic job gains in January, the Employment Trends Index suggests that employment growth is poised to accelerate. Both ‘hard’ economic data as well as confidence measures have improved, and since employment growth typically lags, we expect larger numbers of jobs to be added back into the economy in the coming months.”
This month’s increase in the ETI was driven by positive contributions from four out of the eight components plus one neutral, which is Percentage of Firms With Positions Not Able to Fill Right Now. The improving indicators included Consumer Confidence “Jobs Hard to Get,” Part-Time Workers for Economic Reasons, Job Openings and Industrial Production.
The slight uptick in the ETI sounds very encouraging. I would like to see it trickle down to real job offerings from the 4 internet sites I have my resume on and the hundreds of companies I applied at. Lots of folks are underemployed, with many companies hiring the cheapest employees possible. Those wiith decades of experience vital to long term company success are still being left out of the workforce.
IMHO, if you hire 8 inexperienced/unqualified people (like our govt is doing), to do the job one person did 10 years ago,production and quality suffer. Then, overall prosperity goes down across the board.
As a footnote, I bet if I can find the U.S. durable goods production numbers of 2010 we will see exactly where we are headed this decade. Trade imbalances , especially with China, need to be addressed ASAP. Likewise with South and Central America.