The Conference Board's Employment Trends Index (ETI) slipped to 109.38 in January from an upwardly revised 109.47 in December, originally reported as 109.02, and is up 2.7% from a year ago, the group announced Monday.

"Despite the dip in January, the Employment Trends Index continues to signal a moderate improvement in the labor market," said Gad Levanon, Associate Director, Macroeconomic Research at The Conference Board. "However, employment growth has outpaced economic growth in recent months, and the ETI suggests that this rapid pace of improvement in hiring may not continue in the coming months."

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