Monthly
This dataset tracks monthly over time.
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
2/1/1960 - 9/1/2022
Summary
The 'Monthly' (TURREC) economic trend measures the total unemployment rate on a monthly basis in the United States. This key indicator provides insights into the overall health and performance of the U.S. 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
The total unemployment rate, or TURREC, tracks the percentage of the total civilian labor force that is unemployed but actively seeking work. This metric is widely used by economists, policymakers, and market analysts to assess employment conditions and make informed decisions.
Methodology
The data is collected through the Current Population Survey (CPS), a monthly household survey conducted by the U.S. Census Bureau.
Historical Context
The unemployment rate is a critical input for monetary and fiscal policy decisions made by the Federal Reserve and government.
Key Facts
- The U.S. unemployment rate peaked at 14.7% in April 2020 during the COVID-19 pandemic.
- The current unemployment rate is 3.5% as of February 2023.
- Unemployment data is released by the Bureau of Labor Statistics on the first Friday of each month.
FAQs
Q: What does this economic trend measure?
A: The 'Monthly' (TURREC) trend measures the total unemployment rate, which is the percentage of the civilian labor force that is unemployed but actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The unemployment rate is a key indicator of the overall health and performance of the U.S. labor market, providing important insights for economic policymakers, businesses, and investors.
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.
Q: How is this trend used in economic policy?
A: The unemployment rate is a critical input for monetary and fiscal policy decisions made by the Federal Reserve and government, as it reflects the strength of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The unemployment data is released by the Bureau of Labor Statistics on the first Friday of each month, providing a timely snapshot of the labor market.
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Citation
U.S. Federal Reserve, Total Unemployment Rate (TURREC), retrieved from FRED.