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Economy in Brief

U.S. Labor Market Conditions Index Increases
by Tom Moeller  December 5, 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 November, the index value improved to 1.5 from 1.4, revised from 0.7. It was the highest level since June. Contributing positively to the index change was quicker payroll employment growth and a lower unemployment rate. Offsetting these gains was a lower labor force participation rate and a decline in average hourly earnings.

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

Labor Market Conditions Index (SA) Nov Oct Sep Nov'15 2015 2014 2013
Monthly Index Change 1.5 1.4 0.1 3.3 2.1 5.5 3.8
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