The Kansas City Fed Labor Market Conditions Indicators (LMCI) suggest the level of activity increased, and momentum was little changed in June. The level of activity increased by 0.15, from 0.27 to 0.42, and remains above its historical average. Meanwhile, the momentum indicator was little changed at -0.18.
The first column of the table below shows the labor market variables that made the largest contributions to the 0.15 increase in the activity indicator this month. Overall, 13 variables made a positive contribution to the change in the activity indicator, four variables made no contribution, and seven variables made a negative contribution. The largest positive contributor to the change in the level of activity was job leavers as a percent of the unemployed. In June, 11.8 percent of unemployed workers had voluntarily left their previous jobs, up from 9.8 percent in May. The largest negative contributor to the change in the level of activity was the share of unemployed individuals out of work 27 or more weeks, which increased from 20.4 to 23.3 percent in June.
The KC Fed LMCI suggest the level of activity increased and momentum was little changed in June
The level of activity increased by 0.15, from 0.27 to 0.42, and remains above its historical average. Meanwhile, the momentum indicator was little changed at -0.18.