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 Rhode Island
U5UNEM5RI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.10
Year-over-Year Change
-32.89%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator measures the total number of unemployed, discouraged, and marginally attached workers in Rhode Island as a percentage of the civilian labor force. It provides a broader view of labor market slack and underutilization beyond the official 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 U-5 unemployment rate includes the officially unemployed, discouraged workers who have stopped looking for work, and all other marginally attached workers. This metric gives a more comprehensive picture of labor market conditions and labor force participation in Rhode Island.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This broader unemployment measure is used by policymakers and economists to assess labor market health and guide policy decisions.
Key Facts
- The U-5 rate includes the officially unemployed, discouraged workers, and other marginally attached workers.
- Rhode Island's U-5 rate provides a more comprehensive view of labor underutilization in the state.
- The U-5 metric is used by policymakers to assess labor market health and guide policy decisions.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total number of unemployed, discouraged, and marginally attached workers in Rhode Island as a percentage of the civilian labor force.
Q: Why is this trend relevant for users or analysts?
A: The U-5 unemployment rate gives a broader view of labor market slack and underutilization beyond the official unemployment rate, providing more comprehensive insight into Rhode Island's labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This broader unemployment measure is used by policymakers and economists to assess labor market health and guide policy decisions in Rhode Island.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as other labor force statistics published by the Bureau of Labor Statistics.
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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 Rhode Island (U5UNEM5RI), retrieved from FRED.