By Ruth Mantell
WASHINGTON (MarketWatch) -- A gauge of employment trends ticked higher in July, signaling that jobs growth may continue during the next few months, but at a slow rate, according to a monthly labor-market report released Monday by the Conference Board. The private research group said its employment-trends index, which is designed to forecast turning points in employment, rose 0.41% in July from the prior month. "There is no reason to expect employers to rapidly expand their workforce in the current economic environment," said Gad Levanon, macroeconomic research director at the Conference Board. The employment-trends index is made up of eight labor-market indicators, five of which made positive contributions in July, led by initial claims for unemployment-insurance benefits. July's index level is 5.9% higher than last year. The index reached 108.11 in July, compared with 100 in 1996.
