The Conference Board released its Employment Trends Index (ETI) for the U.S on Monday. The index declined to 126.81 in May from 128.53 in April. April's figure was revised up from 128.30.

Six of eight components decreased in May.

"The Employment Trends Index decreased in May. Its continued weakness suggests that job growth will remain modest in the coming months. Despite softening in the ETI, its recent decline is not nearly as large as those that have preceded past employment contractions," Chief Economist, North America, at The Conference Board, Gad Levanon, said.