US employment trends index rises in May

ISTANBUL

US employment trends index (ETI) rose in May, New York-based research group The Conference Board said Monday in a statement.

The index, a leading composite indicator for employment, increased 0.96 points to 111.44 last month.

The figure for April was revised downward to 110.48 from 111.25.

"The ETI rose in May, another small oscillation that we have continued to observe since the ETI started the downward trajectory its been on since a peak in March 2022," said Will Baltrus, an associate economist at the board.

"May’s uptick signals employment could increase in the second half of 2024, but the ETI’s longer-term downward trajectory signals the high level of monthly increases in employment observed post-pandemic could slow down," he said.

Baltrus said May’s payrolls data showed an increase of 272,000 in employment, rising for the 40th consecutive month, and added the US labor market remains resilient.