Labor market "activity declined as momentum remained high" as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) widened to negative 0.113 in October from a revised negative 0.014 in October, first reported as negative 0.056, according to the Bank.
The momentum indicator grew to 0.95 from 0.75 in October.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.035 in the past half year, with the largest contributor coming from job flows from unemployment to employment. Positive contributions were made by 15 variables, while 9 were negative.
The momentum indicator's largest contributor was initial jobless claims. Positive contributions were made by 17 variables, while 7 were negative.
