The Welch Consulting Employment Index held steady at 100.9 in November. The index is still near its highest level since July, 2008.

The Welch Index measures full-time equivalent employment after adjustment for population growth and the aging of the workforce. The Index value of 100.0 indicates that adjusted full-time equivalent employment is the same as its level in the base year of 2004.

Over the past 12 months the index has risen from 99.7 to 100.9. The increase in the Index over the past year means that full-time equivalent employment has been growing at a faster rate than the adult population.  Full-time equivalent employment increased 1.2% faster than the adult population over the past year (after making adjustments for the aging of the U.S. adult population). Looking back at the most recent 6 months, the index increased from 100.4 in February to 100.9 currently – an increase of 0.5%. The rate of change over the past year and the past six months is on pace with the overall trend for the last 3 years of about 1.0% increase per year.

The indices for both men and women made small moves in opposite directions this month. The index for women fell 0.1 points from 103.7 to 103.6. The index for men rose 0.1 points this month, from 98.7 to 98.8. For the past 12 months the index for men has risen 0.9 points and the index for women has risen 1.7 points.