The Conference Board released its Employment Trends Index (ETI) for the U.S on Monday. The index rose to 129.48 in October from 128.65 in September.

Six of the eight components increased.

"The Employment Trends Index continues to show solid and broad-based gains, with no significant slowdown in job growth expected through the first quarter of 2016. Solid job growth and the lack of recovery in labour-force participation suggest that the unemployment rate may dip below 4.5 percent by this time next year," Managing Director of Macroeconomic and Labour Market Research at The Conference Board, said Gad Levanon.