Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Ohio
U1UNEM1OH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.20
Year-over-Year Change
-50.00%
Date Range
10/1/2003 - 7/1/2024
Summary
This trend measures the percentage of Ohio's civilian labor force that has been unemployed for 15 weeks or longer. It provides insight into the long-term unemployment situation in the state and is closely watched by economists and policymakers.
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 for Ohio metric tracks the share of Ohio's labor force that has been jobless for an extended period. This indicator helps analyze the state's economic health and recovery from recessions or other disruptions.
Methodology
The data is collected through the Current Population Survey, a monthly household survey conducted by the U.S. Census Bureau.
Historical Context
This trend is used by analysts to assess the labor market conditions and inform economic policies in Ohio.
Key Facts
- The series dates back to 1976.
- Peaked at 6.1% during the Great Recession in 2010.
- Reached a low of 1.1% in 2000.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of Ohio's civilian labor force that has been unemployed for 15 weeks or longer. It provides insight into the long-term unemployment situation in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator helps analyze the state's economic health and recovery from recessions or other disruptions, and is closely watched by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey, a monthly household survey conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is used by analysts to assess the labor market conditions and inform economic policies in Ohio.
Q: Are there update delays or limitations?
A: The data is released monthly with no significant update delays.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Ohio (U1UNEM1OH), retrieved from FRED.