U.S. Job Prospects at Three-Year High

Source: Bloomberg

By Shobhana Chandra - Mon Dec 05 15:00:55 GMT 2011

A measure of job prospects in the U.S. climbed in November to a three-year high, helped by growth in the world’s largest economy.

The Conference Board’s Employment Trends Index jumped 1.2 percent to 103.7, the highest level since September 2008, from 102.4 the prior month that was more than initially estimated, figures from the New York-based private research group showed today. The measure rose 6.4 percent from November 2010.

The report is consistent with Labor Department data last week that showed payroll growth picked up while the unemployment rate dropped to 8.6 percent. At the same time, the lack of faster hiring is limiting wage gains and restraining consumers’ ability to boost their spending, which accounts for about 70 percent of the economy.

“The better than expected growth in economic activity in recent months is likely to lead to some acceleration in job growth in the beginning of 2012,” Gad Levanon, director of macroeconomic research at the Conference Board, said today in a statement.

Read more: http://www.bloomberg.com/news/2011-12-05/job-prospects-index-in-u-s-climbs-to-three-year-high-amid-payroll-growth.html