- Prior was 114.31 (revised to 113.56)
“The ETI ticked up in July after two months of decline, signaling continued job growth in the coming months," said Selcuk Eren, Senior Economist at The Conference Board. “The Index peaked in March 2022 and has been on a slow downward trend since then but remains elevated and notably above pre-pandemic levels. We expect positive employment growth for the coming months even if the rate slows down. With continued strength in the labor market and elevated wage growth, we anticipate the Federal Reserve will raise interest target rates one more time”.
This is a low-tier composite indicator.
The latest increase was driven by positive contributions from four of its eight components: Percentage of Respondents Who Say They Find “Jobs Hard to Get”, Ratio of Involuntarily Part-time to All Part-time Workers, Initial Claims for Unemployment Insurance, and Job Openings.
