Despite a July employment report indicating more than 100,000 jobs were added to the nation's payrolls, The Conference Board says the rate of hiring fell last month.
According to its latest Employment Trends Index, job growth is down 0.3 percent compared to June, with overall production increasing marginally.
"The [ETI] has declined in three of the past four months and is signaling employment growth of less than 100,000 per month through the end of 2011," said Gad Levanon, associate director at TCB. "There is simply not enough growth in production to warrant stronger hiring."
Jeffrey Joerres, chairman and CEO of the staffing company ManpowerGroup, said this has been compounded by employers having difficulty finding potential employees with the right skillset to match job openings.
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