April 5, 2009

The Conference Board Employment Trends Index fell again in March. The index now stands at 90.1, decreasing 2.3% from the February revised figure of 92.2, and down 22.1% from a year ago.
 
While we see a continued sharp fall in the ETI, the decline was not as strong as in the previous four months, suggesting that the most intense stage of job losses may be behind us, said Gad Levanon, senior economist at The Conference Board. “However, the drops in each of the eight components of the ETI in March signal that many more jobs will disappear over the next several months.”
 
The 20-month-long decline in the Employment Trends Index is seen in all eight of its components, most notably over the past six months in temporary-help hires and part-time …

The Chicago Fed Midwest Manufacturing Index decreased 0.4% in February to a seasonally adjusted level of 83.8 (2002 = 100). Revised data show the index declined 6.7% in January, to 84.2.
 
The Federal Reserve Board’s industrial production index for manufacturing fell 0.7% in February. Regional output in February was down 22.2% from a year earlier – lower than the 13.8% decline in national output.
 
The region’s steel sector output moved down 4.7% in February after declining 6.2% in January. The nation’s steel output was down 2.7% in February. Regional steel output dropped 30.8% from its February 2008 level, and national steel output fell 21.2%.
 
The Midwest’s machinery sector output decreased 4.2% in February after moving …