Not in Labor Force: Discouraged Workers for Rhode Island
DISCWORKRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,200.00
Year-over-Year Change
-29.41%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Not in Labor Force: Discouraged Workers for Rhode Island' economic trend measures the number of people in Rhode Island who have stopped looking for work due to a perceived lack of available jobs. This statistic is important for economists and policymakers to understand labor market dynamics and potential untapped workforce capacity.
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
This indicator tracks individuals in Rhode Island who are not actively participating in the labor force because they believe no jobs are available for them. Discouraged workers are a subset of the broader 'not in labor force' population, providing insights into workforce participation challenges.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and labor market analysts use this metric to gauge the health of the Rhode Island economy and identify opportunities to re-engage discouraged workers.
Key Facts
- Rhode Island's discouraged worker count reached a high of 11,000 in 2010.
- Discouraged workers make up around 1.5% of Rhode Island's non-participating labor force.
- The number of discouraged workers in Rhode Island has declined by 40% since the 2010 peak.
FAQs
Q: What does this economic trend measure?
A: The 'Not in Labor Force: Discouraged Workers for Rhode Island' metric tracks the number of people in Rhode Island who have given up looking for work due to a perceived lack of available jobs.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the challenges facing Rhode Island's labor market and helps identify opportunities to re-engage discouraged workers, which could boost the state's economic potential.
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 labor market analysts use this metric to gauge the health of the Rhode Island economy and identify opportunities to re-engage discouraged workers.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Not in Labor Force: Discouraged Workers for Rhode Island (DISCWORKRI), retrieved from FRED.