Labor market conditions were "little changed and momentum remained high in January," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) climbed to 0.25 in January from a revised 0.24 in December, first reported as 0.23, according to the Bank.
The momentum indicator grew to 1.38, its highest reading since the series bagan, from an upwardly revised 1.25 in December, first reported as 1.19.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.15 in the past half year, with the largest contributor coming from an increase in the percent of firms planning to increase employment (NFIB). Positive contributions were made by 18 variables while 6 were negative.
The momentum indicator's largest contributor was expected job availability (University of Michigan). Positive contributions were made by 17 variables, while 7 were negative.
