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Economy in Brief

U.S. Labor Market Conditions Improvement Softens
by Tom Moeller  July 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 June, the index value increased 1.5 points following gains of 3.3 and 3.8 points during the prior two months. The weaker increase in last month's index reflected a higher unemployment rate, more initial claims for unemployment insurance, fewer small businesses planning to increase employment and more individuals working part-time for economic reasons. These negative influences offset quicker growth in nonfarm payrolls, longer hours worked and increased y/y growth in average hourly earnings.

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

Labor Market Conditions Index (SA) Jun May Apr Jun'16 2016 2015 2014
Monthly Index Change 1.5 3.3 3.8 1.3 -0.3 2.1 5.2
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