The Conference
Board (CB) reported on Monday its employment trends index (ETI) for the U.S., a
leading composite indicator for employment, declined by 1.0 per cent to 108.48 in
September from an upwardly revised 109.54 in August.
Commenting on
the latest data, Mitchell Barnes, Economist at The CB, noted that the ETI had been
on an extended downtrend that mirrored the decline in job vacancies over the
past two years, yet the overall employment picture had remained strong through
much of that time. “And while hiring has slowed in recent months from its
former rapid pace, last week’s Employment Report showing outsized gains in
September should alleviate some concerns - right at the time the Fed has
started its rate-cutting cycle,” he added. “Despite falling steadily from its
peak, the ETI remains around 2018-19 levels.”