The Conference Board Employment Trends Index™ (ETI) increased in March to 109.03, from a downwardly revised 108.47 in February. The Employment Trends Index is a leading composite index for payroll employment. When the Index increases, employment is likely to grow as well, and vice versa. Turning points in the Index indicate that a change in the trend of job gains or losses is about to occur in the coming months.
Initial claims for unemployment insurance (an ETI component) declined in March following February’s increase, driven by federal and private-sector layoff announcements. The share of involuntary part-time workers declined to 17.4%, after reaching 18% in February—its highest level since 2021. The share of consumers who report ‚jobs are hard to get’—an ETI component from the Consumer Confidence Survey®—fell slightly in March to 15.7% after also peaking at a five-month high in February. The share of small firms that report jobs are ’not able to be filled right now‘ rose for the second consecutive month in March to 40%, the highest share since August 2024.
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