Employment Net Rising Index
The Graph of the Week is the Net Rising Index ofEmployment from the April 2008 NABE Industry Survey. From the survey:
While national payroll employment declined in each of the first three months of 2008, employment at firms in the NABE survey was relatively steady. Nearly two-thirds (62%) reported no change in employment, while 23% added workers and 15% reduced payrolls. The NRI fell from 23 in the January survey to 8 in April, the weakest reading in four years. (See the figure.) The sharpest deterioration in employment conditions was in financial services, where the NRI dropped from 38 to 3 amidst mounting losses on subprime mortgage securities and other financial instruments. Goods-producing firms cut jobs for a fifth consecutive quarter.
NABE members can read the full report here. A summary is available to the public.