Jobs Index Warns of Continued Slow Growth

The Conference Board index of the U.S. job market declined in September, which indicates job growth has remained stagnant and further cuts could be forthcoming, Reuters reports.

The Conference Board’s Employment Trends Index came in at 97.0 for September, which was down from a revised figure of 97.3 in August and a 9 percent increase from a year ago. However, as Reuters reports, the gauge has increased just 0.6 percent from its April level.

Gad Levanon, associate director of macroeconomic research at The Conference Board, warned of a dwindling jobs market in a press release.

“While continued slow job growth remains the most likely scenario over the next several months, the Conference Board ETI suggests that the likelihood of another episode of job losses is increasing,” said Gad Levanon, associate director, macroeconomic research at The Conference Board.

The Employment Trends Index aggregates eight labor-market indicators. The catalyst for the September decline in was negative contributions in four of the eight components.