The Conference Board’s US Leading Economic Index rose in February to its highest level in 10 years. The index rose 0.6% in February to a reading of 126.2 (2010 = 100), following increases of 0.6% in both January and December.

“After six consecutive monthly gains, the US LEI is at its highest level in over a decade,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “Widespread gains across a majority of the leading indicators points to an improving economic outlook for 2017, although GDP growth is likely to remain moderate. Only housing permits contributed negatively to the LEI in February, reversing gains over the previous two months.”

The index is comprised of 10 components, which include average weekly initial claims for unemployment insurance. The US Department of Labor reported yesterday the US four-week moving average of initial claims for unemployment insurance edged up but initial claims fell.

Today, the US Bureau of Labor Statistics reported unemployment rates were lower in January than a year earlier in 205 of the 388 metropolitan areas, higher in 147 areas, and unchanged in 36 areas.

The Salt Lake City metropolitan area posted the lowest unemployment rate among large metropolitan areas at 3.0% in January, followed closely by the Denver area at 3.1%. The highest jobless rate among large metropolitan areas in January was posted by the Cleveland-Elyria area in Ohio at 6.6%.

The lowest unemployment rate among metropolitan areas of all sizes was in Ames, Iowa., at 2.3%. El Centro, Calif., had the highest unemployment rate at 19.6%.