U.S. Job Creation Index Holds at Seven-Year High

The boom phase of the Federal Reserve created boom-bust cycle continues.

Gallup's U.S. Job Creation Index averaged +32 in October, the sixth month in a row in which the index has held at this level. This is the highest index score since Gallup began measuring employees' perceptions of job creation at their workplaces in 2008.

Gallup's Job Creation Index is based on interviews conducted Oct. 1-31 with more than 18,000 American adults who are employed either full or part time as part of Gallup Daily tracking. Gallup asks employed workers nationwide each day whether their employer is increasing, reducing or maintaining the size of its workforce.

In October, 43% of workers said their employer was hiring workers and expanding the size of its workforce, and 11% said their employer was letting people go and reducing the size of its workforce, resulting in the index score of +32.

 -RW