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Economy in Brief

U.S. Labor Market Conditions Index Improves
by Tom Moeller  November 7, 2016

The Labor Market Conditions Index (LMCI) 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 October, the index returned to positive territory. The index value of 0.7 followed two months of decline, both of which were lessened following revision. Contributing positively to the index change was a lower unemployment rate, a quicker gain in average hourly earnings and improvement in government sector hiring. Offsetting these gains was slower growth in nonfarm payroll employment, a lower labor force participation rate and a lessened rise in temporary help employment.

The LMCI data are available in Haver's SURVEYS database.

Assessing the Change in Labor Market Conditions by the Federal Reserve can be found here.

Labor Market Conditions Index (SA) Oct Sep Aug Oct'15 2015 2014 2013
Monthly Index Change 0.7 -0.1 -0.3 3.0 2.1 5.5 3.8
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