HPW Labor Market Tightness Index

Data Employment

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The HPW Index fell from a revised value of zero (0.00) in January to -0.26 in February, driven by declines both in vacancies over effective searchers and in the quits rate.
- Looking back over the past six months (average HPW Index of -0.14), wage pressures are now similar to late 2015 levels.
The HPW Index fell slightly in January from -0.02 to -0.05; underlying this, vacancies increased (indicating a strengthening labor market) and the quits rate declined (indicating a weakening labor market).
- This index value slightly below zero continues to reflect labor market conditions that are nearly in balance after a steady deterioration over the past few years.
The HPW Index fell slightly in December to -0.07 from -0.00 as both the quits rate and vacancies per effective searcher ticked down.
- This index value of basically zero continues to reflect labor market conditions that are nearly in balance after a steady deterioration over the past years.