The Kansas City Fed Labor Market Conditions Indicators (LMCI) suggest the level of activity was little changed and momentum remained high in February. The level of activity indicator was little changed in February at 0.31. The momentum indicator was also little changed at 1.3.
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 February 2017. The activity indicator increased 0.18 over the last six months. The largest contribution came from an increase in job flows from unemployed to employed. Seventeen variables made a positive contribution, and seven variables made a negative contribution. The momentum indicator was 1.3 in January, where the largest contributor to momentum was expected job availability (University of Michigan). Seventeen variables made a positive contribution, and seven variables made a negative contribution.
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