K.C. La­bor Ac­tiv­ity Gauge Rises, Mo­men­tum is High

The Bond Buyer - - Market News - — Gary E. Siegel

La­bor mar­ket “ac­tiv­ity in­creased mod­estly and mo­men­tum re­mained high in Oc­to­ber,” as the Fed­eral Re­serve Bank of Kansas City La­bor Mar­ket Con­di­tions In­di­ca­tors (LMCI) inched up to 0.52 in Oc­to­ber from 0.49 in Septem­ber, ac­cord­ing to the Bank.

The mo­men­tum in­di­ca­tor grew to 1.45 from 1.12 in Septem­ber.

A zero read­ing indi­cates the in­di­ca­tor is at its his­tor­i­cal av­er­age.

The ac­tiv­ity in­di­ca­tor rose 0.18 in the past half year, with the largest con­trib­u­tor com­ing from an in­crease in the hires rate. Pos­i­tive con­tri­bu­tions were made by 14 vari­ables while 8 were neg­a­tive and 2 were neu­tral.

The mo­men­tum in­di­ca­tor’s largest con­trib­u­tor was an in­crease in the man­u­fac­tur­ing em­ploy­ment in­dex (ISM). Pos­i­tive con­tri­bu­tions were made by 19 vari­ables, while 5 were neg­a­tive.

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