A basket of U.S. employment indicators increased in October.
The Conference Board said its employment trends index rose 1% last month to 128.97, up from 128.29 in September.
The board's employment trends index, which seeks to show employment trends more clearly by filtering out the volatility of monthly data, is an aggregate of eight indicators, including jobless claims, job-openings data from the Bureau of Labor Statistics, and industrial production figures from the Fed.
Seven of the basket's gauges rose last month, lead by the percentage of business who are struggling to fill open positions and industrial production.
Gad Levanon, chief economist, North America, at The Conference Board, said the indicator suggests solid job growth will continue through next year.On Friday, the Labor Department said employers added 161,000 nonfarm jobs in October, with upward revisions to the two prior months bolstering the recent trend of job gains. The unemployment rate ticked down to 4.9% owing to a dip in the number of people participating in the workforce.
Write to Austen Hufford at firstname.lastname@example.org
(END) Dow Jones Newswires
November 07, 2016 11:25 ET (16:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.