The Kansas City Fed Labor Market Conditions Indicators (LMCI) suggest the level of activity increased and momentum accelerated in November. The level of activity indicator increased from 0.12 to 0.25 in November, while the momentum indicator increased from 0.83 to 1.10.
The table shows the five labor market variables that made the largest contributions to the change in the activity indicator over the last six months and the five variables that made the largest positive contributions to the momentum indicator in November 2016. The activity indicator increased 0.21 over the last six months. The largest contribution came from an increase in job leavers. Fifteen variables made a positive contribution, three variables made no contribution, and six variables made a negative contribution. The momentum indicator was 1.10 in November, where the largest contributor to momentum was initial claims. Eighteen variables made a positive contribution, and six variables made a negative contribution.