US February employment trends 108.56 vs 108.35 prior

• Prior was 108.35 (revised to 109.45)

This is a composite index so it doesn’t tell us any data we don’t already know but it’s a useful broad view.

“The ETI fell in February to its lowest level since October,” said
Mitchell Barnes, Economist at The Conference Board. “Growing policy
uncertainty is beginning to weigh on business and consumer sentiment,
with more substantial impacts from federal layoffs and funding
disruptions expected in the months ahead.”

“While recently announced federal and private-sector layoffs weren’t
fully captured in February’s Employment Report, several ETI components
show potential early-warning signs of wavering conditions,” Barnes
continued. Initial claims for unemployment insurance ticked up 3.4% in
February to 224,000. The share of involuntary part-time workers rose
from 16.7% in January to 18% in February—its highest level since 2021.
Employment in the temporary-help industry also declined, with total temp
job losses of 22,000 over January and February.”

This article was written by Adam Button at www.forexlive.com.