Caution Anticipated Ahead of Tomorrow's Fed Rate Decision
In a 2014 speech, Federal Reserve Chair Janet Yellen drew attention to one comprehensive metric that would serve as a better pulse on the state of the jobs market than the unemployment rate alone: the 19-part labor market conditions index, or LMCI. This composite barometer draws on a host of data, including employment, underemployment, workers' wages and average workweek length, job openings, as well as hirings and firings, to produce a summary statistic showing if conditions in the labor market improved from one month to the next. Kleinwort Benson Bank CIO Mouhammed Choukeir discusses with Bloomberg's Anna Edwards in London and Manus Cranny in Dubai on "Countdown."
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