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Economy in Brief

U.S. Labor Market Conditions Index Growth Deteriorates Sharply
by Tom Moeller  February 8, 2016

The Labor Market Conditions Index from the Federal Reserve Board includes 19 indicators of labor market activity, covering the broad categories of unemployment and underemployment. These include jobs, workweeks, wages, vacancies, hiring, layoffs, quits and surveys of consumers and businesses. Because the trends in the index are slow-moving, Haver presents only the changes in the index. All are measured monthly and have been seasonally adjusted.

During January, the index barely increased, its weakest performance in nine months. Last month's softening parallels the easing of payroll employment growth reported Friday. In 2015, the index rose moderately following a stronger performance in 2014. During the last ten years, there has been an 85% correlation between the change in the index and m/m growth in nonfarm payrolls.

The data are available in Haver's SURVEYS database.

A Monetary Policy Maker's Lexicon from Loretta J. Mester, President & CEO, Federal Reserve Bank of Cleveland can be found here.

Labor Market Conditions Index (SA) Jan Dec Oct Jan'15 2015 2014 2013
Monthly Index Change 0.4 2.3 2.8 3.7 1.9 5.2 3.9
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