Outlook Slightly More Optimistic
The Conference Board’s U.S. employment trends index rose in October to a reading of 101.92, up from September’s revised reading of 101.20. The October reading is up 5 percent on a year-over-year basis.
“The increase in the employment trends index in October and the upward revisions for September and August signal a slightly more optimistic outlook for jobs,” said Gad Levanon, director of macroeconomic research at The Conference Board. “However, given the deterioration in the confidence of consumers, businesses and investors in recent months, we think that the economy is simply not strong enough to deliver more than 125,000 jobs a month.”