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Economy in Brief

U.S. Labor Market Conditions Index Weakens
by Tom Moeller  April 10, 2017

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 March, the index value improved 0.4 points following much stronger increases during February and January. The index was held back by a weaker gain in private nonfarm payrolls and a lessened 12-month increase in average hourly earnings. Contributing positively were a lower unemployment rate and fewer individuals working part-time for economic reasons. The labor force participation rate and the workweek were stable.

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

Labor Market Conditions Index (SA) Mar Feb Jan Mar'16 2016 2015 2014
Monthly Index Change 0.4 1.5 1.4 -1.9 -0.4 2.1 5.2
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