Monday, March 10, 2014

U.S. labor-market indicators

A compilation of U.S. labor-market indicators shows further improvement, according to a report released Monday. The Conference Board said its February employment trends index increased to 116.39 from a revised 115.99 in January, first reported as 116.61. The latest index is up 4.4% from a year ago. "February's job report and the ongoing improvement in the Employment Trends Index should provide some relief for those concerned about weakness in the U.S. economy and labor market," said Gad Levanon, director of macroeconomic research at the board.
On Friday, the Labor Department said the U.S. economy created 175,000 jobs in February, better than economists expected, and the unemployment rate ticked up to 6.7% last month from 6.6% in January.
The board said six of the ETI's eight components contributed to the February advance. The biggest positives were the number of temporary jobs and job openings.