The Conference Board’s U.S. employment trends index rose in November for the fourth month in a row and job gains appear “imminent.” The index stands at 90.8, up 1.8% from October’s revised level.
“The very small number of job losses in November was to be expected given the increase in the employment trends index in recent months, and this month’s large increase in the [employment trends index] suggests that job gains are imminent, said Gad Levanon, associate director of macroeconomic research at The Conference Board. “However, the pace of hiring is likely to remain subdued because the economic recovery is expected to be weak throughout the first half of 2010.”
On Friday, the U.S. Bureau of Labor Statistics reported the U.S. lost only 11,000 jobs in November. The Associated Press reported economists had been expecting a loss of 130,000 jobs.
Compared to a year ago, The Conference Board’s employment trends index is down 9.4%.