Unemployed Persons in Virginia
LAUST510000000000004A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131,269.00
Year-over-Year Change
-46.39%
Date Range
1/1/1976 - 1/1/2024
Summary
The 'Unemployed Persons in Virginia' metric tracks the number of jobless individuals actively seeking work in the state. This data provides important insights into the Virginia labor market and broader economic conditions.
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 series represents the total number of Virginia residents who are unemployed but have actively looked for a job within the last four weeks. The unemployment rate and total unemployed persons are key economic indicators used by policymakers, analysts, and businesses to assess workforce participation and gauge recessionary pressures.
Methodology
The data is collected through monthly household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Unemployment figures help inform state-level economic policies and workforce development initiatives.
Key Facts
- Virginia's unemployment rate was 3.2% as of December 2022.
- Unemployed persons in Virginia peaked at over 400,000 during the COVID-19 pandemic.
- The state's workforce participation rate was 62.5% in December 2022.
FAQs
Q: What does this economic trend measure?
A: The 'Unemployed Persons in Virginia' metric tracks the total number of Virginia residents who are jobless but actively seeking employment.
Q: Why is this trend relevant for users or analysts?
A: Unemployment data provides critical insights into the strength of the Virginia labor market and overall state economic conditions.
Q: How is this data collected or calculated?
A: The data is gathered through monthly household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Unemployment figures help inform state-level policies and initiatives aimed at workforce development and supporting economic growth.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 week delay after the reference period.
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Citation
U.S. Federal Reserve, Unemployed Persons in Virginia (LAUST510000000000004A), retrieved from FRED.