EconPapers    
Economics at your fingertips  
 

Updating the Labor Market Conditions Index

Hess Chung, Christopher Nekarda and David Ratner
Additional contact information
David Ratner: https://www.federalreserve.gov/econres/david-d-ratner.htm

No 2014-10-01-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Starting Monday, October 6th, we will provide updated estimates of the labor market conditions index (LMCI) every month.

Date: 2014-10-01
Note: Notice: As of August 3, 2017, updates of the labor market conditions index (LMCI) have been discontinued; the July 7, 2017 vintage is the final estimate from this model. We decided to stop updating the LMCI because we believe it no longer provides a good summary of changes in U.S. labor market conditions. Specifically, model estimates turned out to be more sensitive to the detrending procedure than we had expected, the measurement of some indicators in recent years has changed in ways that significantly degraded their signal content, and including average hourly earnings as an indicator did not provide a meaningful link between labor market conditions and wage growth.
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.federalreserve.gov/econresdata/notes/f ... -index-20141001.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2014-10-01-1

DOI: 10.17016/2380-7172.0028

Access Statistics for this paper

More papers in FEDS Notes from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().

 
Page updated 2025-03-30
Handle: RePEc:fip:fedgfn:2014-10-01-1