US Employment Trends Index Declines Due to Tariffs

According to a report by Jinse Finance, the U.S. Conference Board's Employment Trends Index (ETI) for May further declined, dropping from 108.00 to 107.49. "Compared to early 2025, the ETI continued to slow down in May. However, despite widespread caution regarding tariffs, the ETI is currently still above the average level of 2017-19, indicating that the labor market remains on a solid foundation overall." The Conference Board noted that the disparity between hard data and soft data continues to exist, "Although uncertainty may dampen business and consumer confidence, the employment data for May suggests that hiring continues to keep the labor market roughly balanced. However, we are beginning to see some industries being eroded, which may indicate that the pressure from tariff changes is starting to manifest."