Uptick in May employment index seen as signal that worst is over

The Conference Board Employment Trends Index saw a small uptick in May, increasing 0.2% to 89.9, from 89.7 in April.
JUN 08, 2009
The Conference Board Employment Trends Index saw a small uptick in May, increasing 0.2% to 89.9, from 89.7 in April. The index is still down 20% from a year ago, but economists are hopeful that this could be a sign that the economy is rebounding. “While it is too early to say that the ETI has bottomed, the moderation of the last two months is certainly a sign that the decline in job losses is real and signals that the worst is over,” Gad Levanon, senior economist at The Conference Board Inc., said in a statement. That said, the economic recovery will be slow, and the unemployment rate will likely climb into the double digits by the end of this year and into 2010, he said. The Employment Trends Index includes eight labor market indicators from different sources, including initial claims of unemployment insurance, which come from the U.S. Department of Labor, the number of employees hired by the temporary-help industry, from the U.S. Bureau of Labor Statistics, and job openings, from data filed by the Bureau of Labor Statistics. The New York-based Conference Board is a global, independent business membership and research association which publishes this monthly index, which is derived from various labor reports.

Latest News

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

'We are monitoring the situation,' SEC says of private funds
'We are monitoring the situation,' SEC says of private funds

New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline