Labor market conditions "was little changed in April, while momentum increased," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) increased to positive 0.05 in April from a revised positive 0.03 in March, first reported as negative 0.02, according to the Bank.
The momentum indicator gained to 0.62 from 0.48 in March.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.05 in the past half year, with the largest contributor coming from a pickup in the number of job leavers. Positive contributions were made by 16 variables, while 8 were negative, and two were neutral.
The momentum indicator's largest contributor was initial jobless claims. Positive contributions were made by 16 variables, while 9 were negative.
