Unemployment Rate in Pennsylvania
Annual, Not Seasonally Adjusted
LAUST420000000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.60
Year-over-Year Change
-52.63%
Date Range
1/1/1976 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the annual average unemployment rate in the United States. This key economic indicator provides insight into the overall health and stability of the 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
This annual unemployment rate series tracks the percentage of the civilian labor force that is jobless but actively seeking employment over a 12-month period. It is a widely-referenced metric used by policymakers, economists, and analysts to assess broader economic conditions and guide policy decisions.
Methodology
The data is collected through the Current Population Survey (CPS), a monthly household survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Historical Context
The annual unemployment rate is closely monitored by the Federal Reserve and other government agencies to inform monetary and fiscal policy.
Key Facts
- The annual unemployment rate averaged 3.7% in 2019.
- The rate peaked at 14.7% in April 2020 due to the COVID-19 pandemic.
- The civilian labor force includes all employed and unemployed individuals.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the average percentage of the civilian labor force that is jobless but actively seeking employment over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: The annual unemployment rate is a key indicator of overall labor market health and a widely-referenced metric used by policymakers, economists, and analysts to assess broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey (CPS), a monthly household survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The annual unemployment rate is closely monitored by the Federal Reserve and other government agencies to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The annual unemployment rate data is released with a short delay, typically within a few months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LAUST420000000000003A), retrieved from FRED.