Labor market conditions dipped slightly as the Kansas City Fed Labor Market Conditions Indicators (LMCI) fell to negative 0.50 in November from negative 0.45 in October, according to the Bank.
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The momentum indicator held at 1.33, its highest level over the sample.
A zero reading indicates the indicator is at its historical average.
The largest contributions to activity indicator came from quits rate, unemployed for 27 or more weeks, hires rate, unemployment forecast (Blue Chip), job losers.
The largest contributions to momentum indicator came from expected job availability (U of Michigan), initial claims, labor force participation rate, manufacturing employment index (ISM), and announced job cuts (Challenger, Gray & Christmas).
