Slower Momentum In Job Market In January: Fed Index

Improvement in the jobs market continued but at a slower pace in January, according to a Federal Reserve-compiled index released Monday. The Fed's labor market conditions index, which weighs 19 different economic indicators, fell to 4.9 in January from an upwardly revised 7.3 in December. This is the lowest reading since September. The Fed doesn't offer commentary on monthly moves in the series. In a separate reading, the Conference Board said its employment trend index rose to 127.9 in January, up from 127.2 in December, a 7.6% gain from the same month one year ago. This signals strong job growth is likely to continue through the first half of the year, said Gad Levanon, managing director of macroeconomic and labor market research at the Conference Board.

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