Unemployed: Job Losers for Utah
JOBLOSUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,600.00
Year-over-Year Change
-13.22%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Unemployed: Job Losers for Utah' trend measures the number of people in Utah who have lost their jobs and are actively seeking new employment. This data is crucial for understanding the state's labor market dynamics and informing economic policies.
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 series tracks the number of Utah residents who have become unemployed due to job loss, rather than voluntary separation or new labor market entrants. It provides insight into the factors driving unemployment in the state, which is vital information for policymakers, businesses, and job seekers.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by state and federal policymakers to assess the health of the labor market and guide economic interventions.
Key Facts
- Utah's job loss rate is currently below the national average.
- The COVID-19 pandemic caused a significant spike in job losses in Utah in 2020.
- Manufacturing and retail sectors have seen the highest rates of job loss in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Unemployed: Job Losers for Utah' trend measures the number of people in Utah who have lost their jobs and are actively seeking new employment.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the state's labor market dynamics and informing economic policies that support job creation and workforce development.
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: This trend is closely monitored by state and federal policymakers to assess the health of the labor market and guide economic interventions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical release lag of approximately two to three weeks.
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Citation
U.S. Federal Reserve, Unemployed: Job Losers for Utah (JOBLOSUT), retrieved from FRED.