The Conference Board’s employment trends index held at 88.3 in July, unchanged from the revised figures for May and June, but down 20.1% from a year ago, the group announced yesterday.

“The employment trends index has been flat in the last three months,” said Gad Levanon, senior economist at the board. “This suggests that we are getting closer to the point when employers are no longer cutting their workforce. However, since we are expecting a weak economic recovery, and given the record number of involuntary part-time workers — many of whom are likely to move to full-time positions before new employees are hired — we do not expect significant job growth over the next year.”

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.