Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Massachusetts
U4UNEM4MA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.20
Year-over-Year Change
-37.31%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the civilian labor force in Massachusetts that is unemployed or discouraged from seeking work. It provides a broader view of labor market conditions beyond the standard unemployment rate.
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 unemployment rate includes both the officially unemployed and 'discouraged workers' who have stopped looking for a job due to perceived lack of available opportunities. This more comprehensive measure is useful for understanding the true scope of labor underutilization in the state.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this metric to assess the strength of the Massachusetts labor market and inform workforce development initiatives.
Key Facts
- The U4 unemployment rate in Massachusetts was 9.2% as of the latest data.
- The U4 rate is higher than the official state unemployment rate, indicating more labor market slack.
- The U4 metric provides a more comprehensive view of unutilized labor resources in the state.
FAQs
Q: What does this economic trend measure?
A: The U4 unemployment rate measures the percentage of the civilian labor force in Massachusetts that is either officially unemployed or has become discouraged from seeking work.
Q: Why is this trend relevant for users or analysts?
A: This broader measure of labor underutilization is useful for policymakers and economists to get a more complete picture of labor market conditions in the state beyond the standard unemployment rate.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and labor market analysts use this metric to assess the strength of the Massachusetts labor market and inform workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is subject to the same release schedule and potential limitations as the official unemployment statistics for the state.
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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 Massachusetts (U4UNEM4MA), retrieved from FRED.