US labor market conditions from the Fed

  • Prior revised to 1.8 from 1.1
  • There were six economists estimates ranging from 1.3 to 1.9

It's a weighted average based on 19 already-released labor indicators so there is nothing new here.

Separately, the Conference Board August employment trends index rose to 128.82 from 127.64.

"The large increase in the Employment Trends Index in August suggests that a significant moderation in employment growth is unlikely to occur in the coming months," said Gad Levanon, Managing Director of Macroeconomic and Labor Market Research at The Conference Board. "With solid job growth expected to continue, the unemployment rate is likely to go below 5 percent by year's end."