Labor market conditions "increased modestly and momentum remained high in October," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) gained to 0.12 in October from a revised 0.08 in September, first reported as 0.11, according to the Bank.
The momentum indicator grew to 0.81 from an upwardly revised 0.75 in September, first reported as 0.68.
A zero reading indicates the indicator is at its historical average.
The activity indicator rose 0.084 in the past half year, with the largest contributor coming from an increase in job flows from unemployment to employment. Positive contributions were made by 13 variables while 8 were negative and three were flat.
The momentum indicator's largest contributor was initial jobless claims. Positive contributions were made by 15 variables, while 9 were negative.
