{"id":435826,"date":"2026-08-10T21:03:07","date_gmt":"2026-08-10T14:03:07","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-employment-trends-107-71-vs-106-74-prior-435826\/"},"modified":"2026-08-10T21:03:07","modified_gmt":"2026-08-10T14:03:07","slug":"us-july-employment-trends-107-71-vs-106-74-prior","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-employment-trends-107-71-vs-106-74-prior-435826\/","title":{"rendered":"US July employment trends 107.71 vs 106.74 prior"},"content":{"rendered":"<div>\n<ul>\n<li>Prior was 106.69 (revised to 106.74)<\/li>\n<\/ul>\n<p>Notably, this index flagged some weakness last month and that proved to be prescient (or lucky) as the weakness showed up in Friday&#8217;s non-farm payrolls report.<\/p>\n<p>&#8220;The ETI rebounded in July after declining in May and June, suggesting<br \/>\ncontinued resilience in the labor market, despite the &#8216;low-hire,<br \/>\nlow-fire&#8217; backdrop,&#8221; said Conrad Qi, Economic Data Scientist Associate,<br \/>\nThe Conference Board. &#8220;Nonetheless, the ETI remains only 0.6% above its<br \/>\nlevel one year ago, suggesting that payroll growth may remain modest in<br \/>\nthe months ahead. Setting aside numerous special factors that caused<br \/>\nhiring volatility this year\u2014including seasonal education worker cuts and<br \/>\n normalizing leisure and hospitality hiring after the FIFA World Cup,<br \/>\nwhich lowered non-farm payrolls by 23,000 in July\u2014underlying job growth<br \/>\nremains modest but positive.&#8221;<\/p>\n<p>Note that this is a composite indicator of data already released and is never a market mover but it&#8217;s a decent cross-check.<\/p>\n<p>Two of the ETI&#8217;s eight components contributed negatively to the index in July: <\/p>\n<ul type=\"disc\">\n<li>the Ratio of Involuntarily Part-time to All Part-time Workers<\/li>\n<li>Industrial Production. <\/li>\n<\/ul>\n<p>The following six components contributed positively:<\/p>\n<ul>\n<li>Percentage of Firms with Positions Not Able to Fill Right Now,<\/li>\n<li>Initial Claims for Unemployment Insurance,<\/li>\n<li>Job Openings,<\/li>\n<li>Real Manufacturing and Trade Sales,<\/li>\n<li>Percentage of Respondents Who Say They Find &#8216;Jobs Hard to Get,&#8217; and<\/li>\n<li>Number of Employees Hired by the Temporary-Help Industry<\/li>\n<\/ul>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior was 106.69 (revised to 106.74) Notably, this index flagged some weakness last month and that proved to be prescient (or lucky) as the weakness showed up in Friday&#8217;s non-farm payrolls report.&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435826","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435826"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435826\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}