Employment Report

Reported by the California Association of Realtors

 

Employment Trends Index (ETI)™ increases for first time in 16 Months
The Employment Trends Index (ETI)™ for May now stands at 89.9, a 0.2 percent increase from the revised April figure of 89.7, and a 20 percent decrease compared with a year ago, according to a report released Monday by The Conference Board.

"While it is too early to say that the ETI has bottomed, the moderation of the last two months is certainly a sign that the decline in job losses is real and signals that the worst is over," said Gad Levanon, senior economist at The Conference Board. "However, as the economic recovery over the coming months is likely to be very slow, we still expect the unemployment rate to continue to increase to double digits by the end of this year and into 2010."