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US jobs index rises again in February

12 March 2010
US jobs index rises again in FebruaryThe US labor market improved in February for the sixth consecutive month, according to a private research group.

The Conference Board's Employment Trends Index rose from 93.2 in January to 93.5 last month, which has taken its rate of growth over the past six periods to more than 13 per cent – a trend not witnessed since 1994.

This month's index, which is calculated using data from eight separate indicators, was driven thanks to gains in the number of temporary employees, job openings, industrial production and real manufacturing and trade sales.

Gad Levanon, senior economist at the Conference Board, suggested the continuing rises recorded in employment will transfer to labor market gains this month,

He said: "We are likely to see this trend continue over the next several months, which will contribute to overall job growth."

Earlier this month, the Labor Department disclosed that unemployment declined in nine US states in February, despite the national jobless rate remaining at 9.7 per cent.

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