Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Louisiana
U1UNEM1LA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.60
Year-over-Year Change
-55.56%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the civilian labor force in Louisiana that has been unemployed for 15 weeks or longer. It provides insights into long-term unemployment patterns 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, as a Percent of the Civilian Labor Force' statistic tracks the share of Louisiana's workforce that has experienced extended joblessness. 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 employment programs.
Methodology
The data is collected through the U.S. Current Population Survey, a monthly household survey conducted by the Census Bureau.
Historical Context
This long-term unemployment rate is an important indicator for state workforce development initiatives and macroeconomic policy decisions.
Key Facts
- Louisiana's long-term unemployment rate was 1.3% in January 2023.
- Long-term joblessness tends to rise during economic downturns.
- Prolonged unemployment can lead to skill erosion and reduced future earnings.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the percentage of Louisiana's civilian labor force that has been unemployed for 15 weeks or longer, providing insights into patterns of extended joblessness in the state.
Q: Why is this trend relevant for users or analysts?
A: The long-term unemployment rate is an important indicator for assessing the strength of Louisiana's labor market and identifying potential needs for targeted employment programs or policy interventions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Current Population Survey, a monthly household survey conducted by the Census Bureau.
Q: How is this trend used in economic policy?
A: This long-term unemployment rate is closely monitored by state policymakers and economists to inform workforce development initiatives and broader macroeconomic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to revisions as additional survey responses are incorporated.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Louisiana (U1UNEM1LA), retrieved from FRED.