Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Arizona
U1UNEM1AZ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.10
Year-over-Year Change
-64.52%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator measures the percentage of the civilian labor force in Arizona that has been unemployed for 15 weeks or longer. It provides insight into the long-term unemployment dynamics in the state.
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 Persons Unemployed 15 Weeks or Longer indicator tracks individuals in Arizona's labor force who have been jobless for an extended period. This metric is closely monitored by economists and policymakers to assess the strength of the state's labor market and identify potential need for targeted interventions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Population Survey.
Historical Context
This indicator informs economic and workforce development policies in Arizona.
Key Facts
- Arizona's long-term unemployment rate was 1.5% in December 2022.
- The state's long-term unemployment rate peaked at 5.9% during the COVID-19 recession.
- Prolonged joblessness can lead to skill erosion and diminished future earnings potential.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the percentage of Arizona's civilian labor force that has been unemployed for 15 weeks or longer.
Q: Why is this trend relevant for users or analysts?
A: Long-term unemployment is a key metric for assessing the health and resilience of the state's labor market and informing economic policies.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Population Survey.
Q: How is this trend used in economic policy?
A: This indicator informs workforce development initiatives and other policies aimed at supporting Arizona's labor market and economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Arizona (U1UNEM1AZ), retrieved from FRED.