Fed’s Labor Market Indicator Bounces Back At Fastest Pace Since 2015

Thanks to Friday’s ‘magnificent’ goldilocks jobs print, The Fed’s Labor Market Conditions Index (once Janet Yellen’s favorite indicator… until it started to turn down… and now just “experimental”) bounced back ftom its 6-months of declines to 1.0% rise – the best since Dec 2015.

The Fed’s LMCI had never been this weak for this long without non-farm-payrolls being negative…

Several signals helped the LMCI in July including gains in hiring plans, average weekly hours, private payroll employment, and the jobs plentiful-hard to get index.

We wonder if Janet will once again pay attention to this indicator now that it is positive?