The Conference Board Employment Trends Index increased to 105.06 (+0.55 pts MoM) in January, a level associated with continued payroll growth and potential shifts in hiring trends ahead.

• Initial unemployment insurance claims declined in January, extending the drop from mid 2025 highs and indicating layoffs remained mild.

• The share of involuntary part-time workers fell to 17.6%, the lowest since September, suggesting improved labor utilization conditions.

• The share of consumers reporting jobs are hard to get rose to 20.8%, the highest since early 2021, pointing to weaker perceptions of job availability.

• The share of small firms unable to fill positions fell to 31% (post pandemic low), while firms planning to increase employment dropped to a three-month low, indicating softer hiring intentions.

• Six of eight ETI components contributed positively, including temporary help hiring, job openings, real manufacturing and trade sales, and industrial production, showing broad support from activity indicators.

• Manufacturing activity and employment indicators remained mixed, while consumer and business confidence weakened, suggesting stability alongside cautious sentiment.