The Conference Board Employment Trends Index (ETI) fell to 106.41 in August from a revised 107.13 in July, its lowest level since early 2021, signaling mounting labor market pressures.

• The share of consumers saying “jobs are hard to get” rose to 20% (from 18.9%), the highest since early 2021.
• Small firms reporting unfillable jobs fell to 32%, continuing a steady decline from 36% in June.
• JOLTS job openings fell -176k in July, following a -355k drop in June, more than offsetting earlier spring gains.
• Temporary-help employment declined -9,800 in August, extending the sector’s weakness.
• Initial unemployment insurance claims ticked higher, returning to levels last seen in May.
• Industrial Production contracted between June and July, while Real Manufacturing & Trade Sales growth slowed to +3.1% YoY (from +4.6% in March).
• Six of eight ETI components were negative in both July and August, the first such streak since November 2024, suggesting a potential turning point for softer hiring.