KC Fed LMCI Implies the Labor Market Is Closer to a Full Recovery than the Unemployment Rate Alone Suggests
Abstract: By consolidating information from a broad range of labor market variables, the Kansas City Fed Labor Market Conditions Indicators (LMCI) provide a consistent gauge of labor market tightness. Adjusting the unemployment rate to incorporate information from the LMCI suggests the labor market is closer to a full recovery than the unemployment rate alone implies.
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Provider: Federal Reserve Bank of Kansas City
Part of Series: Economic Bulletin
Publication Date: 2021-10-19
Issue: October 19, 2021