National Employment Trend Rising

December 11, 2009

The Conference Board’s national Employment Trends Index rose again in November for the fourth month in a row. This is great news for the labor market which is still in a severe recession.

Since the revised October figure, the index is up 1.8 percent to 90.8, but remains down by 9.4 percent from a year ago.

The Employment Trends Index (ETI) is based off of eight labor-market indicators. Five of these eight provided the positive contributions that led to November’s increase. These improvements were seen in: number of temporary employees, job openings, industrial production, initial claims for unemployment insurance, and trade sales.

The U.S. Bureau of Labor Statistics provided data for the ETI and overall, November only saw the loss of 11,000 jobs nationwide. This is very low, considering that many economists expected ten times higher losses. December’s reports should be very interesting. With so few losses last month, who knows? It’s possible that we could see small gains in December.

As for Hawaii, the unemployment rate remained at 7.2 percent in October, which is the most recent data available for the time being.

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