Published On: November 24th, 2025Categories:

The San Francisco Fed’s newly introduced Labor Market Stress Indicator (LMSI) adds a valuable dimension to US economic analysis. By tracking how unemployment pressures spread across states in real time, the LMSI provides a clearer and earlier signal of cyclical turning points than traditional national data. In this flash report, we examine its design, historical performance, and recent readings – showing why this innovative indicator suggests that the US labor market remains resilient, though softening at the margins.

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