Global| Jun 16 2017U.S. Labor Market Improvement Slows
by:Tom Moeller
|in:Economy in Brief
Summary
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, [...]
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 May, the index value improved 2.3 points, the weakest increase since December. Earlier months' figures were little revised. The slower rise in last month's index reflected a lessened gain in private nonfarm payrolls, a lower labor force participation rate, stable hours worked and a steady y/y gain in average hourly earnings. Offsetting these influences was a lower unemployment rate, fewer persons working part-time for economic reasons and more small businesses planning to increase employment.
The LMCI data are available in Haver's USECON database.
| Labor Market Conditions Index (SA) | May | Apr | Mar | May'16 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|
| Monthly Index Change | 2.3 | 3.7 | 3.5 | -2.3 | -0.3 | 2.1 | 5.2 |
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.
More Economy in Brief
