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Tags: Gallup | job | creation | index

Gallup's Job Creation Index Matches 6-Year High

By    |   Wednesday, 03 September 2014 07:54 PM

Gallup's U.S. job creation index registered 28 in August, unchanged from July's six-year high and up from 22 a year earlier.

The index measures net hiring. In August, 41 percent of workers said their employer is expanding the size of its workforce, while 13 percent said their employer is reducing the size of its workforce. That produces a net hiring score of 28.

At the same time, 40 percent of workers said their employer is keeping its work force stable.

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August marked only the second month since 2008, with July being the first, that more workers reported their employer is hiring than reported their employer isn't changing staffing levels.

"Unchanging job creation is good news in the sense that the recent gains are holding," writes Gallup's Lydia Saad. "However, this steadiness could be a troubling sign if the lack of improvement continues, indicative of persistent weakness in the economy."

That's particularly the case for private-sector job creation, which has changed little over the past two years, she says. Government job creation has done a little better.

Many economists expressed optimism about the labor market after news of the 209,000 increase in July nonfarm payrolls, the sixth straight gain of more than 200,000.

"It's a Goldilocks report for an economy that is steadily expanding but not lifting off," Mohamed El-Erian, chief economic adviser for Allianz, told Reuters. "It will reinforce for now the Federal Reserve's commitment to a gradualist policy approach."

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Gallup's U.S. job creation index registered 28 in August, unchanged from July's six-year high and up from 22 a year earlier.
Gallup, job, creation, index
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2014-54-03
Wednesday, 03 September 2014 07:54 PM
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