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The Conference Board’s Employment Trends Index dropped to 106.41 in August, representing a decline from July’s revised reading of 107.13. This figure marks the index’s weakest performance since early 2021, signaling potential employment challenges ahead.
The employment indicator has experienced a sustained downturn following its pandemic recovery peak several years ago. Mitchell Barnes, Senior Economist at The Conference Board, characterized the recent data as particularly troubling, noting that while earlier declines reflected labor market stabilization after COVID-19 disruptions, current weakness appears more concerning.
Barnes emphasized that despite relatively stable layoff rates and low unemployment, economic uncertainties continue to affect business