Global| Jun 08 2015Fed Indicates Easing Labor Market Conditions
by:Tom Moeller
|in:Economy in Brief
Summary
The Labor Market Condition Index (LMCI), from the Federal Reserve Board, provides a broad-based measure of the U.S. job market. Through December, it showed tightening conditions. In the winter months, however, indications of slack [...]
The Labor Market Condition Index (LMCI), from the Federal Reserve Board, provides a
broad-based measure of the U.S. job market. Through December, it showed tightening conditions.
In the winter months, however, indications of slack developed, likely due to severe weather.
The April reading, however, showed no tightening of conditions.
The 19 indicators contained in the LMCI reflect activity in several labor market categories; unemployment & underemployment, employment, workweeks, wages, vacancies, hiring, layoffs, quits, consumer & business surveys. Haver presents only the change in the overall index, rather than its level, because the common components of the trends are slow moving. In our specification, short-run changes in the index are informative about movements in overall labor market conditions.
The Federal Reserve Board figures can be found in Haver's SURVEYS database.
| Federal Reserve Board | May | Apr | Mar | May 2014 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Labor Market Conditions Index | 1.3 | -0.5 | -1.0 | 6.9 | 5.4 | 4.0 | 3.7 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
