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Economy in Brief

U.S. Labor Market Conditions Index Turns Positive
by Tom Moeller  August 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 other 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 July, the index was positive for the first time since December. Nonfarm payroll employment growth over three months strengthened; the gain in average hourly earnings increased; and the number of initial unemployment claims fell. Also improving weres the labor force participation rate, aggregate hours worked and the number of temporary help jobs. Other labor market indicators were weaker, however, including a lower ISM jobs figure, higher unemployment for 27 weeks and fewer small businesses with positions they were unable to fill right now. The LMCI data are available in Haver's SURVEYS database.

Labor Market Conditions Index (SA) Jul Jun May Jul'15 2015 2014 2013
Monthly Index Change 1.0 -0.1 -3.4 1.8 1.9 5.1 3.9
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