Total Unemployed, as a Percent of the Civilian Labor Force for Maine
U3UNEM3ME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.80
Year-over-Year Change
-37.78%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Total Unemployed, as a Percent of the Civilian Labor Force for Maine' series measures the percentage of Maine's civilian labor force that is currently unemployed. This statistic is a key economic indicator used by policymakers and analysts to gauge labor market conditions.
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 series tracks the unemployment rate in Maine, showing the proportion of the state's civilian labor force that is currently without a job but actively seeking work. The unemployment rate is a crucial metric for understanding the strength of the state's economy and labor market.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Maine unemployment rate is closely monitored by state and federal policymakers to inform economic and workforce development initiatives.
Key Facts
- Maine's unemployment rate was 3.4% in January 2023.
- The state's unemployment rate has declined from a high of 9.1% in April 2020.
- Maine's unemployment rate is below the national average of 3.4%.
FAQs
Q: What does this economic trend measure?
A: The 'Total Unemployed, as a Percent of the Civilian Labor Force for Maine' series measures the percentage of Maine's civilian labor force that is currently unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The Maine unemployment rate is a crucial indicator of the state's economic health and labor market conditions, and is closely monitored by policymakers and economists to inform economic and workforce development initiatives.
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 Maine unemployment rate is used by state and federal policymakers to assess the strength of the state's economy and labor market, and to inform policy decisions related to economic and workforce development.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a short delay. There may be some limitations in capturing certain segments of the labor force, such as those who have stopped actively seeking work.
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Citation
U.S. Federal Reserve, Total Unemployed, as a Percent of the Civilian Labor Force for Maine (U3UNEM3ME), retrieved from FRED.