Employment Trends Index Shows Fastest Decline Ever

“Over the past year, the Employment Trends Index has declined faster than at any other time in its 35-year history, with the most severe decreases taking place since the fall,” said Gad Levanon, senior economist at The Conference Board. “As job losses persist, the drop in overall earnings makes a rebound in consumer spending unlikely for the next few months. The decline in employment will only moderate once companies anticipate some revival in domestic and global economic activity.”

The 19-month-long decline in the ETI is seen in all eight of its components, most notably over the past six months in temporary-help hires and part-time workers for economic reasons.

The ETI aggregates eight labor-market indicators, including:

percentage of respondents who say they find “jobs hard to get”; initial claims for unemployment insurance; percentage of firms with positions not bble to fill right now; number of employees hired by the temporary-help industry; part-time workers for economic reasons; job openings; industrial production; and real manufacturing and trade sales. (Tire Review/Akron)

Ascot Supply Corporation, based in Newnan, Georgia, has selected Mark Paquette for the newly created position of vice president. In this position, Ascot Supply said Paquette will oversee the growth of the company's products, corporate profitability, manage marketing and advertising and assume many other responsibilities.

He will work under the direction of current President David Kessler and officially begin his new role on June 3. Paquette joined the tire and automotive industry in the early 1980s at his father's tire shop, and his contributions to Mohawk Rubber Sales were instrumental in the company's growth and eventual sale to Myers Tire Supply in 2021, according to Ascot Supply. Paquette eventually was given a promotion to the role of director of operations at Myers Tire Supply.