The Kansas City Fed Labor Market Conditions Indicators (LMCI) suggest the level of activity increased modestly and momentum remained high in October. The level of activity indicator increased modestly in October from 0.49 to 0.52, while the momentum indicator accelerated from 1.12 to 1.45.    

The table in the current release shows the five labor market variables that made the largest contributions to the increase in the activity indicator over the last six months and the five variables that made the largest positive contributions to the momentum indicator in October 2017. The activity indicator increased 0.18 over the last six months. The largest contribution came from an increase in the hires rate. Fourteen variables made a positive contribution, two variables made no contribution, and eight variables made a negative contribution. The momentum indicator was 1.45 in October, where the largest contributor to momentum was the manufacturing employment index (ISM). Nineteen variables made a positive contribution, and five variables made a negative contribution.  

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