The Conference Board Employment Trends Index (ETI) inched up to 106.84 in September (from a revised 106.68 in August), a slight rebound but still close to its lowest reading since the pandemic, reflecting subdued momentum in labor market conditions.

• Initial unemployment insurance claims were flat in September, and the share of involuntary part time workers held at 17% for a third month, indicating little month to month movement in these components.

• Real manufacturing and trade sales and industrial production also held steady in recent releases, showing no significant change in underlying economic activity feeding into labor demand.

• JOLTS job openings rose by 19,000 in August after several months of declines, providing a modest positive contribution following earlier weakness.

• The share of consumers saying “jobs are hard to get” fell to 18.2% (from 19.1%), offering a slight improvement in perceived job availability.

• The share of small firms reporting unfillable positions remained unchanged at 32%, staying at its post pandemic low and signaling continued easing in labor shortages.

• Temporary help employment contributed negatively to the index, reflecting weaker demand for flexible labor as firms remain cautious.

• Five of eight ETI components contributed positively in September, two contributed negatively, and one was flat, consistent with the report’s characterization of a “low-hire, low-fire” environment amid persistent economic uncertainty.