US employment trends index rises in August

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 statement on Monday.

The index, a leading composite indicator for employment, last month increased 0.33 points to 109.04 in August.

The figure for July was revised downwards to 108.71 from 109.61.

"The ETI rose in August, recording just its second monthly gain of 2024," Mitchell Barnes, an economist for the Conference Board, said in the statement.

"In the context of labor market data that is broadly softening, the improvement in the ETI is a positive indication that the pace of labor market slowdown remains sustainable ahead of September’s Fed meeting, where we expect the interest rate cutting cycle to begin," he added.