Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Montana
U1UNEM1MT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.80
Year-over-Year Change
-46.67%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the civilian labor force in Montana that has been unemployed for 15 weeks or longer. It provides insight into the long-term unemployment situation 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 metric tracks the share of Montana's labor force that has faced extended joblessness. This statistic is a key indicator of labor market health and economic resilience.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Historical Context
Policymakers and economists use this metric to assess the state of Montana's labor market and inform decisions around employment policies.
Key Facts
- Montana's long-term unemployment rate was 21.4% in January 2023.
- This is 4.5 percentage points higher than the national average.
- Long-term joblessness has risen significantly since the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the percentage of Montana's civilian labor force that has been unemployed for 15 weeks or longer, providing insight into long-term joblessness in the state.
Q: Why is this trend relevant for users or analysts?
A: The Persons Unemployed 15 Weeks or Longer statistic is a key indicator of labor market health and economic resilience, which is crucial for policymakers and economists analyzing the state of Montana's economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the state of Montana's labor market and inform decisions around employment policies.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be a short lag in reporting.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Montana (U1UNEM1MT), retrieved from FRED.