Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Rhode Island
U1UNEM1RI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.90
Year-over-Year Change
-45.71%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks the percentage of the Rhode Island civilian labor force that has been unemployed for 15 weeks or longer. It provides insights into the labor market's long-term unemployment trends.
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 represents the share of the total civilian labor force in Rhode Island that has been without a job for an extended period. This data point is a key measure of labor market health and can inform policymakers and economists on the underlying strength of the state's economy.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this indicator to assess the effectiveness of labor market policies and identify areas needing targeted interventions.
Key Facts
- Rhode Island's long-term unemployment rate was 2.2% as of the latest data.
- Long-term unemployment tends to rise during economic downturns and decline during expansions.
- Persistently high long-term unemployment can indicate structural issues in the labor market.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the percentage of the Rhode Island civilian labor force that has been unemployed for 15 weeks or longer, providing insights into long-term unemployment trends in the state.
Q: Why is this trend relevant for users or analysts?
A: Long-term unemployment is a key measure of labor market health and can inform policymakers and economists on the underlying strength of the Rhode Island economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this indicator to assess the effectiveness of labor market policies and identify areas needing targeted interventions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Rhode Island (U1UNEM1RI), retrieved from FRED.