Labor market conditions continued to improve as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) narrowed to negative 0.325 in February from negative 0.343 in January, according to the Bank.
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The momentum indicator dropped to 1.171, from 1.458 in January.
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 the increase in percentage of job leavers. Positive contributions were made by 17 variables, while 7 were negative.
The momentum indicator's largest contributor was expected job availability from the University of Michigan survey. Positive contributions were made by 19 variables, while 5 were negative.
