Civilian Labor Force in Maine
LAUST230000000000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
705,421.00
Year-over-Year Change
0.47%
Date Range
1/1/1976 - 1/1/2024
Summary
The Civilian Labor Force in Maine measures the total number of employed and unemployed individuals in the state's workforce. This key economic indicator provides insights into the strength and dynamics of Maine's labor market.
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 in Maine represents the total number of people aged 16 and over who are either employed or actively seeking work within the state. It is a crucial measure used by economists and policymakers to assess the overall health and trends in the state's job market and economic activity.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Civilian Labor Force in Maine is monitored closely by state and federal government agencies to inform economic and workforce development policies.
Key Facts
- Maine's civilian labor force totaled 688,400 in June 2022.
- The labor force participation rate in Maine was 60.2% in June 2022.
- Maine's civilian labor force has decreased by 2.7% since the pre-pandemic level in February 2020.
FAQs
Q: What does this economic trend measure?
A: The Civilian Labor Force in Maine measures the total number of people aged 16 and over who are either employed or actively seeking work within the state.
Q: Why is this trend relevant for users or analysts?
A: The Civilian Labor Force in Maine is a crucial indicator of the state's economic health and labor market dynamics, providing insights that inform policy decisions and business strategies.
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: The Civilian Labor Force in Maine is closely monitored by state and federal government agencies to inform economic and workforce development policies.
Q: Are there update delays or limitations?
A: The Civilian Labor Force in Maine data is published monthly with a lag, and may be subject to revisions based on updated survey information.
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Personal Contributions for Social Insurance in Maine
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Citation
U.S. Federal Reserve, Civilian Labor Force in Maine (LAUST230000000000006A), retrieved from FRED.