Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Hawaii
U4UNEM4HI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.10
Year-over-Year Change
-63.95%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the total number of unemployed and discouraged workers in Hawaii as a percentage of the civilian labor force plus discouraged workers. It provides a comprehensive view of labor market slack and underutilization 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 U4 measure captures both officially unemployed individuals as well as those who have given up actively searching for work, known as discouraged workers. This broader metric offers important insights into the true state of the labor market beyond the standard unemployment rate.
Methodology
The data is collected through monthly household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers closely monitor this indicator to assess the overall health and resilience of the Hawaii labor market.
Key Facts
- Hawaii's U4 unemployment rate peaked at 20.6% in April 2020 during the COVID-19 pandemic.
- The U4 rate provides a more comprehensive measure of labor underutilization compared to the standard unemployment rate.
- Tracking the U4 rate helps policymakers assess the true level of labor market slack in Hawaii.
FAQs
Q: What does this economic trend measure?
A: The U4 measure captures both the officially unemployed and discouraged workers in Hawaii as a percentage of the civilian labor force plus discouraged workers.
Q: Why is this trend relevant for users or analysts?
A: This broader metric offers important insights into the true state of the Hawaii labor market beyond the standard unemployment rate, helping economists and policymakers assess the overall health and resilience of the labor force.
Q: How is this data collected or calculated?
A: The data is collected through monthly household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this indicator to assess the overall health and resilience of the Hawaii labor market, which is crucial for informing economic and workforce development policies.
Q: Are there update delays or limitations?
A: The U4 data is published monthly with a typical delay of 1-2 months, providing timely insights into the state of Hawaii's labor market.
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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 Hawaii (U4UNEM4HI), retrieved from FRED.