Fleet Management

Employment Index Suggests Worse To Come

August 04, 2008

SHARING TOOLS        | Print Subscribe
The Conference Board's Employment Trends Index continued a now year-long decline in July, suggesting even more softening to come in the labor market.

The index fell in July to 112.1, down 0.9 percent from June's revised figure of 113.1, and down more than 7.5 percent from July 2007.

"This economy remains too weak to stem the monthly loss in jobs," said Gad Levanon, senior economist at The Conference Board. "Unless the labor market turns around soon, unemployment could pass 6 percent in early 2009 - and The Conference Board's Employment Trends Index isn't signaling any such improvement around the corner."

The year-long fall in the Employment Trends Index is seen in all eight of its components, Levanon said, most notably over the past six months in temporary-help hires and part-time workers for economic reasons.

The Employment Trends Index aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out so-called "noise," to show underlying trends more clearly, according to the Conference Board.

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.


ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All