Gallup’s U.S. Job Creation Index increased to 22 in May, the highest score for any month since April 2008.
The Job Creation Index is now much improved from the all-time monthly low of -5 recorded in February and April 2009.
The net job creation score is based on 37 percent of workers telling Gallup that their employer is hiring new people and expanding the size of its workforce, and 15 percent saying their company is letting people go and reducing the size of its workforce.
The percentage “hiring” is the highest since August 2008 and the percentage “letting people go” is the lowest since March 2008.
Job creation in the East (20) and West (21) improved to the best levels seen since mid-2008.
Net job creation also improved in the South (21) in May, but is not quite as high as it was in April 2012 (23), although it is still among the highest levels for the region on record.
Meanwhile, job creation in the Midwest did not improve in May, but it is the highest (22) for any region, as has been the case throughout this year and during much of 2012.
Automatic Data Processing Inc. reported today that private-sector employment increased by 135,000 jobs in May, up from 113,000 in April.