“The labor market is tightening and with such strong job growth, further declines in the unemployment rate is all but guaranteed,” he said.
Six of the eight components the Board measures had positive contributions for the month. The Conference Board said contributing the most positively to the index was percentage of respondents who say jobs are difficult to get and industrial production. The other four elements that added positive contributions to the index were number of employees the temp industry hired, job openings, initial claims for unemployment insurance and real manufacturing and trade sales.
The other two components the index incorporates are ratio of involuntary part-time to all part-time works and percentage of firms with jobs they aren’t able to fill right now.
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Source : https://www.wsj.com/articles/employment-trends-index-rose-for-february-1520865313153