By Ruth Mantell
WASHINGTON (MarketWatch) - A gauge of employment trends rose in May, signaling that jobs growth may not slow further in coming months, 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, increased 0.29 % in May from the prior month. "Employers have been very cautious in hiring in the past two months, but at the moment, economic activity in the U.S. is just strong enough to require a modestly growing workforce," said Gad Levanon, macroeconomic research director at the Conference Board. The index is 7.6% higher than in the prior year. The employment-trends index is made up of eight labor-market indicators, five of which made positive contributions in May, led by the percentage of firms with positions they are not able to fill right now.
