State Unemployment Benefits in Minnesota
MNOBEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,025,099.00
Year-over-Year Change
31.59%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'State Unemployment Benefits in Minnesota' trend tracks the total number of unemployment insurance claims filed in the state of Minnesota. This metric is a key indicator of economic conditions and labor market activity.
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 'State Unemployment Benefits in Minnesota' data series measures the total number of initial and continued unemployment insurance claims filed with the Minnesota Department of Employment and Economic Development. This provides insight into the level of joblessness and economic distress within the state.
Methodology
The data is collected through the regular processing of unemployment insurance claims filed by Minnesota workers.
Historical Context
Policymakers and economists monitor this trend to assess the health of Minnesota's labor market and broader economy.
Key Facts
- Minnesota's unemployment rate was 3.1% as of the latest data.
- Unemployment insurance claims spiked during the COVID-19 pandemic but have since declined.
- The trend provides a real-time gauge of economic conditions in Minnesota.
FAQs
Q: What does this economic trend measure?
A: The 'State Unemployment Benefits in Minnesota' trend tracks the total number of unemployment insurance claims filed in the state of Minnesota. This is a key indicator of labor market activity and economic conditions.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health of Minnesota's economy and labor market. It is closely watched by policymakers, economists, and businesses to assess employment levels and economic distress in the state.
Q: How is this data collected or calculated?
A: The data is collected through the regular processing of unemployment insurance claims filed by Minnesota workers with the state's Department of Employment and Economic Development.
Q: How is this trend used in economic policy?
A: Policymakers and government officials monitor this trend to gauge the need for economic interventions or labor market support programs in Minnesota. The data informs decisions around unemployment benefits, job training, and other workforce initiatives.
Q: Are there update delays or limitations?
A: The 'State Unemployment Benefits in Minnesota' data is published on a regular basis with relatively low latency, providing a timely indicator of labor market conditions. However, the data may not capture the full extent of joblessness due to changes in eligibility or participation in unemployment insurance programs.
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Citation
U.S. Federal Reserve, State Unemployment Benefits in Minnesota (MNOBEN), retrieved from FRED.