Labor Market Conditions Index
Labor market conditions are improving with the index rising to plus 1.3 in May vs an upward revised minus 0.5 percent in April. The gain underscores Friday’s very strong employment report as well as the long run of very favorable jobless claims reports. Still, 1.3 isn’t that strong of a reading and doesn’t point to any urgency for a Federal Reserve rate hike. This index measures a broad range of labor indicators.
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