The Kansas City Fed Labor Market Conditions Indicators (LMCI) are two monthly measures of labor market conditions based on 24 labor market variables. One indicator measures the level of activity in labor markets and the other indicator measures momentum in labor markets.
A positive value indicates that labor market conditions are above their long-run average, while a negative value signifies that labor market conditions are below their long-run average. PDFBackground information for the Kansas City Fed Labor Market Conditions Indicators provides details on the variables used and the construction of the two indicators. All data series are accessed through Haver Analytics except for data from the Conference Board. Links to the Federal Reserve Economic Data (FRED) database are provided for publicly available data.
Instructions to customize your view of the LMCI chart
The LMCI indicators are displayed as the dark blue and light blue lines. Hover or click on interactive chart lines to read specific data.
- Click on the indicator name in the legend to hide/show each indicator.
- Adjust the timeframe by clicking on the “zoom” buttons or by dragging the timeline endpoints below the chart.
In the “Labor Market Variables” section, there is a list of 24 variables that are used to construct the LMCI indicators.
- Click the check box next to each variable name to remove up to five variables from the construction of the LMCI.
- The difference between the official LMCI and the modified LMCI will appear as lightly shaded areas.
- Click on the chart icon to the left of the check box to display the selected labor market variable as a green line on the chart. Only one variable can be added to the chart at a time and only for publicly available data.
- Click on the information icon to the right of the variable titles to get a description of the variable and the source information.
Labor Market Variables
External LinkThe LMCI Momentum Indicator Suggests Monetary Policy Is Beginning to Weigh on Labor Markets
by: José Mustre-del-Río and Emily Pollard | February 3, 2023
KC Fed LMCI Suggests Recent Inflation Is Not Due to the Tight Labor Market
By Andrew Glover, José Mustre-del-Río, and Emily Pollard | October 20, 2021
KC Fed LMCI Implies the Labor Market Is Closer to a Full Recovery than the Unemployment Rate Alone Suggests
By Andrew Glover, José Mustre-del-Río, and Emily Pollard | October 19, 2021
PDFThe Kansas City Fed Labor Market Conditions Indicators (LMCI)
By Craig S. Hakkio and Jonathan L. Willis | August 28, 2014
PDFAssessing Labor Market Conditions: The Level of Activity and the Speed of Improvement
By Craig S. Hakkio and Jonathan L. Willis | July 18, 2013