US employment trends 119.20 vs 118.15 last month

The COnference Board US employment trends rose to 119.20 from 118.15 last month (revised from 117.62)

FranK Steemers, senior economist from The Conference Board said:

“The Employment Trends Index increased again in February, suggesting that robust job growth lies ahead. So far in 2022, more than 1 million jobs have been gained. However, some moderation in job growth is likely in the months ahead—we are now further into the recovery and economic growth rates are projected to decelerate compared to an especially strong 2021. Still, with the labor market being short 2.1 million jobs, returning to prepandemic employment levels is likely in 2022.

Hiring and retention continue to pose major challenges, which we don’t expect to dissipate in the foreseeable future. The unemployment rate has already dropped below 4 percent and is expected to approach 3 percent by the end of 2022. In such a tight labor market, wage growth will likely remain elevated. In particular, workers in in-person services, such as restaurants, personal care, and hotels, are now benefitting from a tight labor market.”

The index is calculated using 8 separate employment statistics

• Percentage of Respondents Who Say They Find “Jobs Hard to Get” (The Conference BoardConsumer Confidence Survey®)
• Initial Claims for Unemployment Insurance (U.S. Department of Labor)

• Percentage of Firms With Positions Not Able to Fill Right Now (© National Federation of Independent Business Research Foundation)
• Number of Employees Hired by the Temporary-Help Industry (U.S. Bureau of Labor Statistics)
• Ratio of Involuntarily Part-time to All Part-time Workers (BLS)
• Job Openings (BLS)**
• Industrial Production (Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term Board)*
• Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis)**

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