Employment continues downward trend
An employment trends index decreased for the 19th consecutive month, falling faster than at any other time in the index’s 35-year history, CNNMoney reported.
The Conference Board released a report today detailing the survey results for the Employment Trends Index, which stood at 91 in February. That was down 3.2 percent from January, and down 21.7 percent from February 2007.
Additionally, the report stated that the past six months have been especially difficult in the temporary help and part-time workers sectors.
“As job losses persist, the drop in overall earnings makes a rebound in consumer spending unlikely for the next few months,” said Gad Levanon, senior economist at The Conference Board.
The Employment Trends Index measures eight labor market indicators as well as initial claims for unemployment insurance and percentage of respondents who claim jobs are “hard to get.”
Levanon said his organization expects continued job losses until economic activity begins to recover in both the United States and around the globe.


