The Federal Reserve’s Labor Market Conditions Index rose 1 point in July, the first increase this year. The U.S. central bank’s LCMI tracks 19 labor-market indicators to get a better sense of the broad health of the job market. June’s LCMI fell a revised 0.1 from the prior estimate of a drop of 1.9. –– ADVERTISEMENT –– Fed Chairwoman Janet Yellen has stressed that the index is still in the research phase and any findings should be considered tentative. Thomas Simons, economist at Jefferies, said “the stabilization in the LMCI over the past two months is encouraging and offers evidence that the swoon in the labor market ... (Read the full story)
