Unemployment Rate in Midwest Census Region
Annual, Not Seasonally Adjusted
LAURD920000000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
-45.95%
Date Range
1/1/1976 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures unemployment rates in Utah on an annual, non-seasonally adjusted basis. This metric is important for economists and policymakers to understand long-term labor market trends in the state.
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 Annual, Not Seasonally Adjusted unemployment rate for Utah provides a yearly overview of joblessness in the state, without adjusting for typical seasonal variations. This data point is useful for analyzing multi-year employment patterns and informing labor force policies.
Methodology
The U.S. Bureau of Labor Statistics collects this data through household surveys and calculates the annual, not seasonally adjusted unemployment rate for Utah.
Historical Context
Economists and state officials use this metric to track Utah's labor market performance and guide workforce development initiatives.
Key Facts
- Utah's annual, not seasonally adjusted unemployment rate averaged 3.2% from 2010-2019.
- The state's jobless rate reached a high of 4.9% in 2010 during the Great Recession.
- Utah has consistently maintained one of the lowest unemployment rates among U.S. states in recent years.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted trend measures the yearly unemployment rate in Utah, without adjusting for typical seasonal variations in the labor market.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into long-term employment patterns in Utah, which can inform workforce policies and economic development strategies.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through household surveys and calculates the annual, not seasonally adjusted unemployment rate for Utah.
Q: How is this trend used in economic policy?
A: Economists and state officials use this metric to track Utah's labor market performance and guide workforce development initiatives.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted unemployment data for Utah is typically released with a lag of several months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LAURD920000000000003A), retrieved from FRED.