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The Conference Board released its Employment Trends Index (ETI) for the U.S on Monday. The index increased to 128.93 in January from 128.71 in December. December's figure was revised down from 129.30.
Five of the eight components climbed.
"The Employment Trends Index rose for the second month in a row, reducing the likelihood of further slowing in employment growth. However, the temporary help industry component declined sharply in January, and because it is one of the best leading indicators of employment growth, we will monitor it closely in the coming months," Managing Director of Macroeconomic and Labour Market Research at The Conference Board, Gad Levanon, said.