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Article: Job index falls to 5-year low more losses likely.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- November 11, 2008
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Byline: The Associated Press
A measure of U.S. job prospects in October dropped to a five-year low, signaling the labor market will keep weakening, a private survey showed.
The Conference Board's Employment Trends Index decreased 1.8 percent to 105.3, the lowest level since October 2003, from a revised 107.2 in September, the New York-based research group said Monday.
Mounting job losses, falling property values and diminishing access to credit are causing consumers to rein in spending. A government report last week showed U.S. payrolls fell for a 10th straight month in October.
"Demand for goods and services in the U.S. is declining, ...