Labor market conditions were "little changed, while momentum accelerated modestly," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) increased to positive 0.015 in June from a revised negative 0.01 in May, according to the Bank.
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The momentum indicator gained to 0.70 from 0.59 in May.
A zero reading indicates the indicator is at its historical average.
The activity indicator fell 0.13 in the past half year, with the largest contributor coming from a decline in the quits rate. Positive contributions were made by 16 variables while 8 were negative.
The momentum indicator's largest contributor was initial jobless claims. Positive contributions were made by 16 variables, while 8 were negative.
