Labor market “activity increased and momentum remained high in April,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) climbed to 0.40 in April from 0.28 in March, according to the Bank.
The momentum indicator fell to 1.34 from 1.48 in March.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.21 in the past half year, with the largest contributor coming from an increase in the percent of firms planning to increase employment (NFIB). Positive contributions were made by 16 variables while 8 were negative.
The momentum indicator’s largest contributor was expected job availability (University of Michigan). Positive contributions were made by 16 variables, while 8 were negative.