Labor market conditions were "little changed in May, while momentum increased," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) decreased to 0.056 in April from a revised 0.060 in April, first reported as 0.050, according to the Bank.
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The momentum indicator gained to 0.56 from 0.50 in April.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.10 in the past half year, with the largest contributor coming from a pickup in the number of job leavers. Positive contributions were made by 17 variables while 7 were negative.
The momentum indicator's largest contributor was initial jobless claims. Positive contributions were made by 15 variables, while 9 were negative.
