US employment trends index rises in August

Consumers’ assessments of current labor situation continued to weaken, says Conference Board economist

By Ovunc Kutlu

ISTANBUL (AA) - The US employment trends index (ETI) rose in August, New York-based research group the Conference Board said in a report on Tuesday.

The index, a leading composite indicator for employment, increased 1.4 points to 103.3 in August from 101.9 in July.

The expectations index, based on consumers’ short-term outlook for income, business, and labor market conditions, also improved in August to 82.5, said the report.

"Overall consumer confidence rose in August but remained within the narrow range that has prevailed over the past two years," said Dana Peterson, chief economist at the Conference Board. "Consumers continued to express mixed feelings in August. Compared to July, they were more positive about business conditions, both current and future, but also more concerned about the labor market.

"Consumers’ assessments of the current labor situation, while still positive, continued to weaken, and assessments of the labor market going forward were more pessimistic. This likely reflects the recent increase in unemployment," she added.

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