A leading indicator for payroll employment in the U.S. decreased in June, extending the declining trend over the past several months, and a signaled a slowdown in payroll hiring in the second half of the year, survey data from the Conference Board showed Monday.
The Conference Board Employment Trends Index fell to 110.27 in June from a downwardly revised 111.04 in May.
When the Index increases, employment is likely to grow as well, and vice versa, and turning points in the index indicate that a change in the trend of job gains or losses is about to occur in the coming months, the think tank said.
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by Jyotsna V
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