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The Fed: Fed ends release of its own employment yardstick

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Federal Reserve Chairwoman Janet Yellen first highlighted the LMCI at the Jackson Hole conference in 2014.

The Federal Reserve announced Monday that it was no longer releasing its so-called labor market conditions index, its in-house tool to gauge the momentum of the labor market.

“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 conditions,” said the three Fed staffers who worked on preparing the monthly report in a statement on the Fed’s website.

If you don’t like the numbers, stop reporting them. https://t.co/qQMh7GQd02

— Steve Goldstein (@MKTWgoldstein) August 7, 2017

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