Unemployment Rate in Virginia
Annual, Not Seasonally Adjusted
LAUST510000000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.90
Year-over-Year Change
-50.00%
Date Range
1/1/1976 - 1/1/2024
Summary
This annual, not seasonally adjusted data series measures the total civilian labor force participation rate in the United States. It is a key indicator of the size and composition of the U.S. workforce.
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 participation rate represents the percentage of the civilian non-institutional population aged 16 and over that is employed or actively seeking work. This metric provides important insights into labor market dynamics and trends.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Historical Context
Policymakers and analysts use this labor force participation rate to assess the health and utilization of the U.S. workforce.
Key Facts
- The labor force participation rate reached a peak of 67.3% in 2000.
- Participation rates have declined since the 2008 financial crisis.
- Women's participation rate has increased over time, from 43.3% in 1950 to 57.1% in 2021.
FAQs
Q: What does this economic trend measure?
A: This data series measures the civilian labor force participation rate, which represents the percentage of the civilian non-institutional population aged 16 and over that is employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key indicator of the size and composition of the U.S. workforce, providing important insights into labor market dynamics and trends that are relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this labor force participation rate to assess the health and utilization of the U.S. workforce, which informs decisions and policies related to employment, labor markets, and economic growth.
Q: Are there update delays or limitations?
A: The data is published annually by the U.S. Bureau of Labor Statistics with no significant update delays, though it may not fully capture seasonal or short-term labor market fluctuations due to the annual, not seasonally adjusted nature of the series.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LAUST510000000000003A), retrieved from FRED.