Total Unemployed, as a Percent of the Civilian Labor Force for Arizona
U3UNEM3AZ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.60
Year-over-Year Change
-40.98%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the civilian labor force in Arizona that is unemployed. It provides an important gauge of labor market conditions and the overall strength of the state's economy.
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 total unemployed as a percent of the civilian labor force is a key labor market indicator that economists and policymakers use to assess the health of the Arizona economy. It tracks the share of the workforce actively seeking but unable to find employment.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend offers insights into the performance of Arizona's labor markets and can inform economic and workforce development policies.
Key Facts
- Arizona's unemployment rate was 4.6% as of the latest data.
- The state's unemployment rate has declined steadily since the COVID-19 pandemic.
- Unemployment levels in Arizona remain below the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the civilian labor force in Arizona that is unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health of Arizona's labor market and overall economic conditions, which is crucial information for policymakers, businesses, and job seekers.
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: This unemployment rate metric can inform workforce development initiatives, economic stimulus measures, and other state-level policies aimed at supporting job creation and employment in Arizona.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical lag of 1-2 months between the reference period and the release date.
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Citation
U.S. Federal Reserve, Total Unemployed, as a Percent of the Civilian Labor Force for Arizona (U3UNEM3AZ), retrieved from FRED.