U.S. job prospects rose last month, index shows
Monday, March 12, 2012 Professional Services
Professional opportunities in the U.S. increased more so in February than any time in the past 36 months, according to an index cited by Bloomberg.
The Employment Trends Index of the Conference Board gained 1.38 percent to 107.46, according to a press release, notching the highest value since July 2008. The index' results from January were 105.99 and the increase demonstrates the labor market is gaining traction as far as its recovery is concerned. Results are up more than 6 percent from the same period of 2011.
"The acceleration in the ETI suggests that rapid job growth is likely to continue in the next several months, despite modest improvements in Demand and Production," macroeconomic research director Gad Levanon with the Conference Board. "In the past year output per hour of work grew very slowly. If this trend continues, employment growth could remain robust even if GDP continues to grow at a modest 2 to 2.5 percent, as we expect."
A reduced amount of Americans said jobs are hard to get, according to the poll.
The U.S. unemployment rate presently is 8.3 percent after 227,000 new jobs were added in February. That followed the 284,000 that were added in January.