Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Connecticut
U4UNEM4CT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.80
Year-over-Year Change
-48.65%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the total number of unemployed and discouraged workers in Connecticut as a percentage of the civilian labor force plus discouraged workers. It provides insights into the state's labor market and broader economic 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
The U4UNEM4CT series tracks the total number of unemployed and discouraged workers in Connecticut, expressed as a percentage of the civilian labor force plus discouraged workers. This metric is used by economists and policymakers to understand the true state of joblessness and underutilization of the labor force in the state.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by state and federal policymakers to inform decisions around economic and workforce development policies.
Key Facts
- The U4UNEM4CT reached a high of 19.4% in April 2020 during the COVID-19 pandemic.
- Connecticut's U4UNEM4CT has declined from its pandemic peak but remains elevated compared to pre-crisis levels.
- Policymakers use the U4UNEM4CT to gauge the true extent of labor market slack in the state.
FAQs
Q: What does this economic trend measure?
A: The U4UNEM4CT measures the total number of unemployed and discouraged workers in Connecticut as a percentage of the civilian labor force plus discouraged workers.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a more comprehensive view of labor market conditions in Connecticut by including discouraged workers, who are not counted in the standard unemployment rate.
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: Policymakers use the U4UNEM4CT to gauge the true extent of labor market slack in Connecticut, which informs decisions around economic and workforce development policies.
Q: Are there update delays or limitations?
A: The U4UNEM4CT data is published on a monthly basis, with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Connecticut (U4UNEM4CT), retrieved from FRED.