Activity in the national labor market declined modestly in April, even as momentum in the market remained high, the Federal Reserve Bank of Kansas City said in a report released this week.
The Kansas City Fed’s Labor Market Conditions Index level of activity fell slightly, to -0.252 in April from -0.215 in March. However, the momentum indicator increased to 0.92 from 0.88.
Those mixed signals came against the backdrop of an improved unemployment rate last month. The national unemployment rate fell to 5.4 percent after holding at 5.5 percent for two consecutive months. Missouri’s unemployment rate climbed slightly in April, to 5.6 percent, up from 5.5 percent in March.