Labor market conditions improved slightly as the Kansas City Fed Labor Market Conditions Indicators (LMCI) narrowed to negative 0.33 in November from a revised negative 0.42 in December, first reported as negative 0.47, according to the Bank.
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The momentum indicator dipped to 1.49, from 1.59 in December.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.22 in the past half year, with the largest contributor the declining percentage of job losers. The momentum indicator was 1.49 in January, with expected job availability from the University of Michigan survey the largest contributor.
