In sign of hope, employment index remained flat

In a positive sign for the job market, the Conference Board Employment Trends Index remained flat last month for the third month in a row, according to data released today. The index for July was at 88.3, the same level it was in May and June, but a drop of 20.1% from a year ago. “This suggests that we are getting closer to the point when employers are no longer cutting their work forces, Gad Levanon, senior economist of The Conference Board Inc., said in a statement. Initial claims for unemployment insurance, industrial production and manufacturing as well as trade sales improved from the previous month. The New York-based Conference Board is a global, independent business membership and research association.