Total Unemployed, Plus Discouraged Workers, Plus All Other Marginally Attached Workers, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for North Carolina
U5UNEM5NC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.10
Year-over-Year Change
-31.67%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the North Carolina civilian labor force that is unemployed, discouraged, or marginally attached. It provides a broader view of labor underutilization 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 U5 unemployment measure includes those who are unemployed, plus discouraged workers and other marginally attached individuals. This more comprehensive indicator helps policymakers and analysts better understand labor market conditions and the extent of labor underutilization in North Carolina.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics from the Current Population Survey.
Historical Context
The U5 unemployment rate is used by economists and policymakers to assess the overall health of the North Carolina labor market.
Key Facts
- The U5 unemployment rate is higher than the standard unemployment rate.
- Discouraged workers and marginally attached individuals are included in the U5 measure.
- North Carolina's U5 unemployment rate provides a more comprehensive view of labor market conditions.
FAQs
Q: What does this economic trend measure?
A: The U5 unemployment measure includes the unemployed, discouraged workers, and other marginally attached individuals as a percentage of the civilian labor force in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: The U5 unemployment rate provides a broader and more comprehensive view of labor underutilization in North Carolina, which is useful for policymakers and economists analyzing the state's labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics from the Current Population Survey.
Q: How is this trend used in economic policy?
A: The U5 unemployment rate is used by economists and policymakers to assess the overall health of the North Carolina labor market and inform policy decisions.
Q: Are there update delays or limitations?
A: The U5 unemployment data for North Carolina is subject to the same update schedule and potential limitations as the standard unemployment rate data.
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Citation
U.S. Federal Reserve, Total Unemployed, Plus Discouraged Workers, Plus All Other Marginally Attached Workers, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for North Carolina (U5UNEM5NC), retrieved from FRED.