Total Unemployed, as a Percent of the Civilian Labor Force for Alabama
U3UNEM3AL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.80
Year-over-Year Change
-30.00%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Total Unemployed, as a Percent of the Civilian Labor Force for Alabama' measures the unemployment rate in Alabama as a percentage of the total civilian labor force 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
This economic indicator provides crucial insights into the labor market and overall economic health of Alabama. It is widely used by policymakers, economists, and analysts to assess employment trends and inform policy decisions.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The unemployment rate is a key metric for monitoring economic performance and guiding fiscal and monetary policies.
Key Facts
- Alabama's unemployment rate was 3.8% in April 2023.
- Unemployment has decreased by 1.2 percentage points since April 2022.
- The national unemployment rate was 3.4% in April 2023.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the civilian labor force in Alabama that is currently unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The unemployment rate is a crucial indicator of the health of Alabama's labor market and overall economic conditions, providing insights for policymakers, businesses, and individuals.
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: The unemployment rate is closely monitored by policymakers and economists to inform decisions on fiscal and monetary policies, as well as to assess the effectiveness of economic interventions.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a short delay. The unemployment rate may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Total Unemployed, as a Percent of the Civilian Labor Force for Alabama (U3UNEM3AL), retrieved from FRED.