Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Massachusetts
U1UNEM1MA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.40
Year-over-Year Change
-63.16%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks the percentage of the civilian labor force in Massachusetts that has been unemployed for 15 weeks or longer. It provides insight into long-term unemployment trends 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 is an important metric for assessing the state of the labor market and the durability of economic recovery. It highlights the segment of the unemployed population facing the greatest challenges in finding new work.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
This indicator is closely monitored by policymakers, economists, and labor market analysts to inform economic and workforce development strategies.
Key Facts
- Massachusetts long-term unemployment rate reached a high of 5.1% in 2010.
- The indicator declined to 1.6% in 2019 before rising again during the COVID-19 pandemic.
- Long-term joblessness disproportionately affects certain demographic groups and communities.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the percentage of the civilian labor force in Massachusetts that has been unemployed for 15 weeks or longer, providing insight into long-term unemployment trends in the state.
Q: Why is this trend relevant for users or analysts?
A: The Persons Unemployed 15 Weeks or Longer metric is a key indicator of labor market health and the durability of economic recovery, informing policymakers, economists, and labor market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored by policymakers, economists, and labor market analysts to inform economic and workforce development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the normal release schedule and potential revisions of the Current Population Survey.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Massachusetts (U1UNEM1MA), retrieved from FRED.