- Prior was 115.45 (revised to 114.71)
“The ETI ticked down in August and has been on an overall declining trend since March 2022," said Selcuk Eren, Senior Economist at The Conference Board. “The index is still elevated, so job gains may continue over the coming months, but the rate of growth may lessen and eventually will switch to job losses”.
“As anticipated, some industries are already shedding jobs, including information services and transportation and warehousing. The ETI suggests that weakness in the job market will eventually broaden to the rest of the labor market. The number of employees working in temporary help services, an important early indicator for hiring in other industries, has declined steadily since it peaked in March 2022. While still elevated compared to prepandemic levels, Job openings – an indicator of opportunities available to workers – are declining rapidly. Furthermore, workers have changed their sentiments regarding the labor markets as those saying jobs are “hard to get” rose to a two-year high in August 2023.
This data point is a composite of other data that's already release but there's a keen eye on the jobs market at the moment.
