The Kansas City Fed Labor Market Conditions Indicators (LMCI) suggest the level of activity was little changed and momentum remained high in April. The level of activity indicator was little changed in April at 0.75, while the momentum indicator was little changed at 1.36.
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 April 2018. The activity indicator increased 0.24 over the last six months. The largest contribution came from an increase in job leavers. Seventeen variables made a positive contribution, one variable made no contribution, and six variables made a negative contribution. The momentum indicator was 1.36 in April, where the largest contributor to momentum was initial claims. Seventeen variables made a positive contribution, and seven variables made a negative contribution.