Civilian Labor Force for Utah
CIVLFUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,806,200.00
Year-over-Year Change
9.27%
Date Range
10/1/2003 - 7/1/2024
Summary
The Civilian Labor Force for Utah measures the total number of people in Utah who are employed or actively seeking employment. It is a key indicator of the overall strength and size of the state's workforce.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Civilian Labor Force for Utah represents the total number of people aged 16 and older who are either employed or unemployed but actively looking for work within the state. It is a widely tracked economic metric used to assess the health and dynamics of Utah's labor market.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor the Civilian Labor Force to gauge the overall employment picture and make informed decisions about economic and workforce development initiatives.
Key Facts
- Utah's civilian labor force totaled 1.63 million in 2022.
- The labor force participation rate in Utah was 68.2% in 2022.
- Utah's civilian labor force has grown by over 16% since 2012.
FAQs
Q: What does this economic trend measure?
A: The Civilian Labor Force for Utah measures the total number of people aged 16 and older who are either employed or actively looking for work within the state.
Q: Why is this trend relevant for users or analysts?
A: The civilian labor force is a key indicator of the overall strength and dynamics of Utah's labor market, which is crucial for policymakers, businesses, and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely track the Civilian Labor Force for Utah to gauge the overall employment picture and make informed decisions about economic and workforce development initiatives.
Q: Are there update delays or limitations?
A: The Civilian Labor Force data for Utah is typically released on a monthly basis, with a short delay to allow for data collection and processing.
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Citation
U.S. Federal Reserve, Civilian Labor Force for Utah (CIVLFUT), retrieved from FRED.