U.S. Jobs Index Decreased Less in April, Signaling Fewer Cuts
A measure of U.S. job prospects in April showed the smallest decline in almost a year, indicating firings may be abating, a private report showed.
The Conference Board’s Employment Trends Index last month decreased 0.7 percent to 89.5, the smallest decrease since June 2008, from 90.1 in March, the New York-based research group said today. The index was down 22 percent from a year earlier.
Companies including DuPont Co. and Microsoft Corp. continue to warn of the potential need for staff reductions, though the rate of cutting is decelerating. The Labor Department last week said payrolls in April shrank by the least since October.
“The outlook for employment is much less negative than in prior months, but still it is not likely that employment growth will resume before the final quarter of the year,” Gad Levanon, a senior economist at the Conference Board, said in a statement.
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