US will continue to create jobs, although growth rate may slow: Conference Board

October 9, 2023

The Conference Board’s index of employment trends rose in September, signaling continued job growth.

“The index has been on a slow downward trend since its peak in March 2022, but remains well above pre-pandemic levels,” Selcuk Ehren, senior economist at The Conference Board, said in a news release. “This suggests that the U.S. economy will continue to add jobs through the end of 2023 and into next year, even if growth slows.”

Overall, the index of employment trends rose to 114.66 in September from 114.16 in August.

Ehren noted that the number of temporary help workers — an important indicator of hiring in other industries — continues to fall after peaking in March 2022. However, some other components of the Employment Trends Index remain low.

“Initial claims for unemployment insurance remain very low, as does the share of workers who are working part-time because they cannot find a full-time position,” he said. “Similarly, the percentage of firms reporting difficulty filling their vacancies increased in September.”

In a separate story today, a survey by the National Association of Business Economists also projected that the U.S. will continue to add jobs through the end of 2024, although the number of jobs added next year will be lower than originally projected.

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