Notes updating

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We decided to stop updating the LMCI because we believe it no longer provides a good summary of changes in U. In our recent FEDS Note, Assessing the Change in Labor Market Conditions (May 22, 2014), we introduced a new tool, the labor market conditions index (LMCI), which we found to be useful for assessing changes in labor market conditions.The LMCI is derived from a dynamic factor model that extracts the primary common variation from 19 labor market indicators.(See Table 1 in that Note for a list of the indicators.) Starting this Monday, October 6th, we will provide updated estimates of the LMCI every month.New: Any new features or functionality, listed in order of excitement.Fixed: Anything external facing, so “something that someone has experienced at some point, or that has been reported, or that was slightly hidden, but is frankly absurd, so interesting to share”.

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