The Conference Board Employment Trends Index (ETI) increased in July, after increasing in June. The index now stands at 109.89, up from 108.72 (a downward revision) in June. The change represents a 5.4% gain in the ETI compared to a year ago.

“The growth in the Employment Trends Index remains strong, supported by positive contributions from all of its components,” said Gad Levanon, chief economist, North America, at The Conference Board. “We expect economic activity to remain strong in the coming months, and the rapid expansion of employment should continue despite the very tight labor market.”