Which of the following is NOT included in the Conference Board's Leading Indicators?

The overall unemployment rate is not part of the Conference Board's Leading Indicators because leading indicators are specifically designed to predict future economic activity, while the unemployment rate is a lagging indicator. Lagging indicators reflect the economy's past performance and change only after the economy has begun to follow a particular trend. In contrast, leading indicators such as the Consumer Confidence Index, Manufacturing Orders, and Stock Market Returns are used to gauge how the economy might perform in the near future.

The Consumer Confidence Index reflects consumer optimism about the economy, which can drive spending and investment. Manufacturing Orders signal future production levels and demand, while Stock Market Returns can indicate investor sentiment and expectations for future corporate earnings. Each of these is aimed at forecasting economic trends, unlike the unemployment rate which summarizes the current labor market situation and tends to respond to changes in the economy after they occur.