Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for South Dakota
U1UNEM1SD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
-55.56%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks the percentage of the South Dakota civilian labor force that has been unemployed for 15 weeks or longer. It provides insights 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 as a Percent of the Civilian Labor Force metric represents individuals within the South Dakota workforce who have been jobless for an extended period. This data point is closely monitored by economists and policymakers to assess the labor market's health and identify potential areas for targeted employment initiatives.
Methodology
This statistic is calculated by the U.S. Bureau of Labor Statistics using survey data from households in South Dakota.
Historical Context
Trends in long-term unemployment can inform economic and workforce development policies at the state level.
Key Facts
- South Dakota's long-term unemployment rate was 1.4% as of the latest data.
- This indicator has declined from a peak of 2.7% during the COVID-19 pandemic.
- Long-term joblessness is a key metric for assessing the strength of the state's economic recovery.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the percentage of the South Dakota civilian labor force that has been unemployed for 15 weeks or longer, providing insights into long-term unemployment in the state.
Q: Why is this trend relevant for users or analysts?
A: Monitoring long-term unemployment is crucial for evaluating the overall health of the labor market and informing economic and workforce development policies at the state level.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics calculates this statistic using survey data from households in South Dakota.
Q: How is this trend used in economic policy?
A: Trends in long-term unemployment can inform state-level economic and workforce development policies, as they provide insights into the strength of the labor market recovery.
Q: Are there update delays or limitations?
A: This data is published monthly by the U.S. Bureau of Labor Statistics, with potential for minor delays in availability.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for South Dakota (U1UNEM1SD), retrieved from FRED.