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 Virginia
U5UNEM5VA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.70
Year-over-Year Change
-33.93%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator measures the percentage of the total civilian labor force in Virginia that is unemployed, discouraged, or marginally attached to the workforce.
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 rate includes the standard unemployed population as well as discouraged workers and other marginally attached workers. This broader measure provides a more comprehensive assessment of labor market slack and underutilization of available workers.
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 gauge the overall health and utilization of the labor force.
Key Facts
- The U5 unemployment rate includes the standard unemployed, discouraged workers, and other marginally attached workers.
- This metric provides a more comprehensive measure of labor market slack than the standard unemployment rate.
- The data is collected through the Current Population Survey by the U.S. Census Bureau.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of the total civilian labor force in Virginia that is unemployed, discouraged, or marginally attached to the workforce.
Q: Why is this trend relevant for users or analysts?
A: This broader measure of labor market slack and underutilization provides valuable insights for policymakers and economists assessing the overall health of the labor force.
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 economists use this metric to gauge the overall health and utilization of the labor force when making economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the standard Current Population Survey.
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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 Virginia (U5UNEM5VA), retrieved from FRED.