The Conference Board’s employment trends index crept up 0.29% to 108.34 in May from a downwardly revised 108.03 in April, and is up 7.6% from a year ago, the group announced Monday.

“While growth in employment has slowed significantly in recent months, the employment trends index does not signal further slowing in the coming months,” said Gad Levanon, associate director of  macroeconomic research at the board. “Employers have been very cautious in hiring in the past two months, but at the moment, economic activity in the U.S. is just strong enough to require a modestly growing workforce.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.