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Economy in Brief

U.S. Labor Market Conditions Index Recovers
by Tom Moeller  February 6, 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 January, the index value improved to 1.3 from 0.6 in December, revised from -0.3. Contributing positively in January were quicker payroll employment growth, a higher labor force participation rate and a higher percentage of small businesses with jobs that could not be filled right now. Contributing negatively was a higher unemployment rate and slower growth in average hourly earnings.

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

Labor Market Conditions Index (SA) Jan Dec Nov Jan'16 2016 2015 2014
Monthly Index Change 1.3 0.6 1.5 -2.0 -0.2 2.0 5.3
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