Conference Board News Release (06/09/14)
The Conference Board Employment Trends Index rose in May to 118.58, up from 117.32 (a downward revision) in April. This represents a 5.4% gain in the ETI compared with a year ago.
“The need for employers to rapidly expand their payroll in light of strengthening economic activity is a major factor in the rapid decline in the unemployment rate,” says Gad Levanon, director of macroeconomic research at the Conference Board.
May’s increase in the ETI was driven by positive contributions from seven of its eight components, including number of temporary employees.