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

Fintech bytes: FP Alpha rolls out estate insights feature
Fintech bytes: FP Alpha rolls out estate insights feature

Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.

Morgan Stanley, Atria job cut details emerge
Morgan Stanley, Atria job cut details emerge

Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.

Envestnet taps Atria alum Sean Meighan to sharpen RIA focus
Envestnet taps Atria alum Sean Meighan to sharpen RIA focus

The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.

LPL, Evercore welcome West Coast breakaways
LPL, Evercore welcome West Coast breakaways

The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.

Supreme Court slaps down brokerage's appeal vs. FINRA expulsion case
Supreme Court slaps down brokerage's appeal vs. FINRA expulsion case

The high court's decision rebuffing Alpine Securities marks a setback for a broader challenge to Wall Street's reliance on self-regulatory organizations.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.