An Alternative Version of the KC Fed LMCI Suggests Little Change in the Labor Market in September

Jose Mustre-del-Rio, Johnson Oliyide and Emily Pollard

Economic Bulletin, 2025, 4

Abstract: Delays in the release of official government data have increased the need for alternative measures of labor market health. We create an alternative version of the Kansas City Fed’s Labor Market Conditions Indicators (LMCI) that excludes delayed government series. The restricted LMCI still provide a timely measure of labor market health that can be used to create real-time forecasts of unemployment and payroll growth. Currently, the restricted LMCI suggest little change in the labor market from August to September.

Keywords: LMCI; Labor Market Conditions Indicators (FRB Kansas City LMCI) (search for similar items in EconPapers)
Date: 2025
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