Employment Trends Index Rises Again
The Conference Board’s Employment Trends Index (ETI) rose for the third consecutive month. A gain of 0.8% in December brought the ETI to 99.3 from November’s revised figure of 98.5, according to the Conference Board, a New York-based private research group. “The improvement in the Employment Trends Index in recent months suggests employment growth is likely to accelerate moderately in the first half of 2011,” said Gad Levanon, associate director of macroeconomic research at the Conference Board. The ETI combines eight labor market indicators to forecast short-term hiring trends. Overall, the index is up 7.6% over the same period in 2009.
Conference-board.org – Jan. 10, 2011
Consumer Confidence Decreases Slightly
The Consumer Confidence Index, which measures consumers’ views of the current economy, as well their expectations for six months from now, decreased from 54.3 to 52.5 in December. The loss of 1.8 points came as somewhat of a surprise to analysts, who had predicted a higher rating due to increased consumer spending during the 2010 holiday season. Those who believe jobs are hard to get increased 0.5% to 46.8%, and those who believe there will be fewer jobs six months from now increased 0.4% to 19.5%. The Consumer Confidence Index surveys 5,000 households and is conducted by the Conference Board, a prominent economic research firm. Read more about the Consumer Confidence Index.
CNNMoney.com – Jan. 10, 2011
Home Prices Decline, but Sales Increase
The Standard and Poor/Case-Shiller Home Price Index fell 1.3% in October from September. The index, which reflects a two-month lag in its most recent data summary, published the latest report on Dec. 28. All of the 20 cities surveyed recorded monthly price declines in home sales. The largest decline was in Atlanta, with home prices 2.9% lower than in September. However, signed contracts to purchase homes increased in November, the fourth such increase in five months, according to the National Association of Realtors. Foreclosed homes make up the majority of increased home sales, many of which are steeply discounted.
Associatedpress.com – Jan. 3, 2011
Manufacturing Activity Increases
The Institute for Supply Management's manufacturing index rose from 56.6 in November to 57 in December. Index readings of more than 50 generally indicate expansion, according to the Institute, "We saw significant recovery for much of the U.S. manufacturing sector in 2010," said Norbert Ore, chair of the Institute for Supply Management's manufacturing business survey committee. "The recovery centered on strength in autos, metals, food, machinery, computers, and electronics, while those industries tied primarily to housing continue to struggle. Additionally, manufacturers that export have benefited from both global demand and the weaker dollar."
Forbes.com – Jan. 11, 2011
Auto Sales Continue to Rise
December 2010 auto sales rose 11% over the same period in 2009. Sales for 2010 came in at 11.6 million vehicles total, also an 11% increase over the past year. General Motors, Ford, and Toyota predict 2011 sales between 12.5 and 13 million vehicles, the best prediction since the beginning of the recession.
Associatedpress.com – Jan. 6, 2011
Temporary Hiring Predictions Increase
CareerBuilder.com found in its annual job forecast survey that more U.S. employers plan to employ contract or temporary workers in 2011 than in the last two years. The survey included 2,482 hiring managers nationwide and took place between Nov. 15 and Dec. 2. According to survey results, 34% of hiring mangers plan to hire contract or temporary workers in 2011, up slightly from 30% anticipated in 2010 and 28% in 2009.
Staffingindustry.com – Jan. 10, 2011
Hiring Outlook Improves Overall
Business Roundtable, an association of CEOs at major U.S. corporations, reports that 45% of executives surveyed expect that their companies will add workers this year, the highest percentage reported since the annual survey was first conducted in 2002. The business group’s 193 member companies currently employ more than 12 million workers. The National Federation of Independent Business also said in a recent report that more small businesses plan to hire workers than reduce their staff.
USAToday.com – Jan. 10, 2011
December 2010
The U.S. Bureau of Labor Statistics reports that the unemployment rate dropped by 0.5 points in December, putting it at 9.4%. There were 14.5 million unemployed persons in December, a decrease from November’s 15.2 million. Total private-sector payroll employment added 103,000 jobs. Learn more from the most recent employment report from the Bureau of Labor Statistics. View the unemployment rate in your state.Major Industry Employment:
• Construction: - 16,000
• Manufacturing: + 10,000
• Mining: + 4,000
• Professional and Business Services: + 7,000
• Health Care: + 37,100
• Government: - 10,000
• Leisure and Hospitality: + 47,000
• Transportation and Warehousing: + 8,800
Employment Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2011.