Employment Index Declines, Conference Board Says

An employment trends index declined in June, the New York-based Conference Board said Monday.

The index fell by 0.6% in June to a reading of 111.9, and it is down 8% from last July, the group said.

The downturn continued a decline that began last July and suggested more job losses in the coming months, the Conference Board said in a statement.

“Most leading indicators of employment point to an even sharper deterioration in the labor market in the months ahead,” said Gad Levanon, the board’s senior economist.

On Thursday, the Labor Department reported that U.S. payrolls fell by 62,000 jobs in June, while the unemployment rate held at 5.5%.