Economic Report: Fed’s job-market index has first gain of year in July

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A “now hiring” sign is posted in the window of a Chase bank branch in San Rafael, Calif.

WASHINGTON (MarketWatch) — 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.

Fed Chairwoman Janet Yellen has stressed that the index is still in the research phase and any findings should be considered tentative.

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