Updated September 29 at 12:29pm

Employment index in U.S. reaches more than five-year high

A measure of job prospects in the U.S. advanced in August to a more than five-year high, a sign the labor market is improving.

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Employment index in U.S. reaches more than five-year high

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WASHINGTON - A measure of job prospects in the U.S. advanced in August to a more than five-year high, a sign the labor market is improving.

The Conference Board’s Employment Trends Index increased 0.7 percent to 113.54, the highest since April 2008, the N.Y.-based private research group said today. The prior month’s reading was revised up to 112.8 from 112.2. The measure is up 4.5 percent from a year earlier.

“Employment is likely to moderately expand through the fall,” Gad Levanon, director of macroeconomic research at the Conference Board, said in a statement.

Today’s report follows Labor Department data last week that showed payrolls rose 169,000 in August following a 104,000 gain a month earlier. The unemployment rate fell to 7.3 percent, the lowest since December 2008, as workers left the labor force.

The Employment Trends Index aggregates eight labor-market indicators to forecast short-term hiring trends. Improvements in seven of the index’s eight components contributed to the gain in the overall gauge, the Conference Board said.

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JonPolis

For a more detailed explanation of this situation; Go to http://www.bls.gov/news.release/empsit.t15.htm Note that the National " U6 " level of unemployment for AUGUST 2013 is THIRTEEN POINT SEVEN PER CENT...(13.7%)...(R.I. is HIGHER>>>)

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