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Economy in Brief

U.S. Labor Market Conditions Index Remains Negative
by Tom Moeller  October 11, 2016

The Labor Market Conditions Index 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 September, the index was again in negative territory, where it's been in all but one month this year. The index value of -2.2 was the weakest since May. The unemployment rate rose, nonfarm payroll employment growth over three months weakened and the gain in average hourly earnings eased. To the upside, the number of initial unemployment claims fell and the ISM jobs figure rose. The LMCI data are available in Haver's SURVEYS database.

Labor force participation: what has happened since the peak? from the Bureau of Labor Statistics can be found here.

Labor Market Conditions Index (SA) Sep Aug Jul Sep'15 2015 2014 2013
Monthly Index Change -2.2 -1.3 0.8 1.1 2.1 5.5 3.8
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