Employer hiring trends optimistic for 2011
There are a few reasons for job seekers to be more optimistic following a tumultuous hiring year in 2010, Bloomberg reports. Despite employment gains falling to a disappointing gross total of 93,000 in November, the new data from the Conference Board's Employment Trends Index points upward.
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A November increase of 1.4 percent pushed the index to 99 - the highest it has been since November 2008, according to the research firm. The figure, which has increased 9.3 percent since the start of the year, is an indicator that increased employee recruiting will turn into more hiring in the new year.
"While we are not expecting economic activity or employment to grow rapidly anytime soon, we do expect employment to continue to moderately increase," said Gad Levanon, associate director of macroeconomic research at the Conference Board.
The Employment Trends Index is a compilation of eight sources of data regarding employee recruiting and recent hiring figures. The Board reported an improvement in seven of those eight trends which led to the overall increase in the ETI, Bloomberg detailed.
The increase is being welcomed as good news as the U.S. Labor Department announced an increase of just 50,000 added payrolls in the private sector, down from an original projection of 160,000 during October.
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A November increase of 1.4 percent pushed the index to 99 - the highest it has been since November 2008, according to the research firm. The figure, which has increased 9.3 percent since the start of the year, is an indicator that increased employee recruiting will turn into more hiring in the new year.
"While we are not expecting economic activity or employment to grow rapidly anytime soon, we do expect employment to continue to moderately increase," said Gad Levanon, associate director of macroeconomic research at the Conference Board.
The Employment Trends Index is a compilation of eight sources of data regarding employee recruiting and recent hiring figures. The Board reported an improvement in seven of those eight trends which led to the overall increase in the ETI, Bloomberg detailed.
The increase is being welcomed as good news as the U.S. Labor Department announced an increase of just 50,000 added payrolls in the private sector, down from an original projection of 160,000 during October.
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