Civilian Labor Force in South Carolina
LAUST450000000000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,535,631.00
Year-over-Year Change
16.48%
Date Range
1/1/1976 - 1/1/2024
Summary
The Civilian Labor Force in South Carolina measures the total number of people aged 16 and over who are employed or actively seeking work in the state. This key economic indicator provides insights into workforce participation and can inform policy decisions.
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 South Carolina represents the total number of individuals in the state who are either employed or actively looking for work. This metric is a crucial indicator of economic activity and labor market conditions, and is widely used by economists, policymakers, and analysts to evaluate the health and growth of the state's economy.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in the Civilian Labor Force are closely monitored by the Federal Reserve and state governments to help guide economic and workforce development policies.
Key Facts
- The Civilian Labor Force in South Carolina reached a record high of 2.4 million in 2019.
- South Carolina's labor force participation rate was 57.8% as of 2021.
- The state's unemployment rate has declined from a peak of 11.7% in 2010 to 3.4% as of 2022.
FAQs
Q: What does this economic trend measure?
A: The Civilian Labor Force in South Carolina measures the total number of people aged 16 and over who are either employed or actively seeking work in the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in the Civilian Labor Force provide valuable insights into the strength of the state's economy and labor market conditions, which are crucial for policymakers, businesses, and individuals making economic decisions.
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 South Carolina is closely monitored by the Federal Reserve and state governments to help guide economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Civilian Labor Force in South Carolina (LAUST450000000000006A), retrieved from FRED.