Let us dive into some of the recent data coming from the labor market. In this video, we discuss the unemployment rate, initial claims, continued claims, job quits, job openings, nonfarm payroll, and more!
The unemployment rate came in today at 3.4%, once again showing the resilience of the US economy and the labor market. In this video we talk about the jobs market by discussing job openings, initial claims, continued claims, recessions, and more!
The Kansas City Fed Labor Market Conditions Indicators (LMCI) are two indicators created to measure the current state and momentum of labor market conditions. The first indicator, referred to as the level indicator, measures the level of activity in labor markets. The second indicator, referred to as the momentum indicator, is shown in this chart and measures momentum in labor markets. A positive value indicates that the labor market momentum is above its long-run average, while a negative value signifies that the labor market momentum is below its long-run average. In order to create the level and momentum indicators a total of 24 labor market datasets are used, including the unemployment rate, initial claims and labor force participation rate.
Labor market conditions refer to the state of the job market, which includes the supply and demand for labor, the availability and quality of jobs, and the wages and benefits offered to workers.
