Labor Market Conditions Index Shows 6th Straight Negative Reading

Not even Friday's surge in payrolls could lift the labor market conditions index out of the negative column, coming in at minus 1.9 for June for the 6th straight negative showing. Gains for government payrolls and temporary help payrolls, two of the report's components, could not offset negatives elsewhere including weakness in average hourly earnings and the 2 tenths rise in the unemployment rate. This index is a broad composite of 19 separate indicators and is considered experimental by policy makers.