Fed ends release of its Labor Market Conditions Index

Three Fed staffers who worked on preparing the monthly report in a statement on the Fed’s website on Monday, it was no longer releasing its labor market conditions index, its in-house indicator to gauge the momentum of the labor market.

The statement read: “We decided to stop updating the [labor market conditions index] because we believe it no longer provides a good summary of change in U.S. labor market condition.”

The Fed said the index was “more sensitive to the detrending procedure” than expected, and also noted the measurement of some indicators has changed in recent years.