The labor market conditions index (LMCI), a dynamic factor model of 19 monthly indicators, appears to be a useful tool for assessing the change in labor market conditions based on a broad array of information.
Monthly updates of the LMCI were discontinued on August 3, 2017
The labor market conditions index (LMCI), a dynamic factor model of 19 monthly indicators, appears to be a useful tool for assessing the change in labor market conditions based on a broad array of information.
Although the unemployment rate is the arguably the best single summary indicator of the labor market, it is important to consider additional indicators for a comprehensive assessment of current conditions and the future trajectory.