Which of the following is a coincident economic indicator?

The correct answer is monthly non-agricultural payroll, as it is a primary coincident economic indicator that reflects the overall health of the economy in real time. Coincident indicators are those economic indicators that move in direct correlation with the current state of the economy, meaning they rise and fall concurrently with economic expansion and contraction.

The monthly non-agricultural payroll measures the number of jobs added or lost in the economy each month, excluding farm employment, government, and a few other sectors. This indicator provides insight into labor market trends and is considered a reliable gauge of economic activity because job creation is directly tied to consumer confidence and spending. As employment levels change, consumer spending often follows, thereby affecting economic growth.

The other choices represent different types of indicators. The unemployment rate is considered a lagging indicator because it typically reacts to changes in the economy after they have occurred. The consumer price index is classified as a leading indicator and measures inflation, while stock market trends are often seen as forward-looking but can be quite volatile and not directly tied to current economic performance. Therefore, the monthly non-agricultural payroll is the most accurate representative of a coincident economic indicator among the options provided.