The labor market outlook for the U.S. improved slightly in April, according to a news release from the Kansas City Federal Reserve Bank.
The bank’s labor market conditions indicators – which are constructed by using a weighted average of two-dozen market variables – suggest the level of activity was little changed in April, though momentum increased.
Overall labor market activity increased from 0.03 in March to 0.05 in April while the bank’s momentum indicator increased from 0.48 in March to 0.62 in April, according to the release.
Although tiny, the increase in market activity in April represented the first jump for the indicator since December. The Kansas City district includes Kansas, Oklahoma, Nebraska, Colorado, Wyoming, the western third of Missouri and the northern half of New Mexico.