Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Alabama
U6UNEM6AL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.70
Year-over-Year Change
-31.88%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the underemployment rate in Alabama, providing a broader view of labor market conditions than 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 U6 underemployment rate includes those who are unemployed, marginally attached to the labor force, and employed part-time for economic reasons. It offers a more comprehensive assessment of labor market slack and utilization compared to the headline unemployment figure.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
The U6 rate is closely watched by policymakers and analysts to gauge the overall health of the labor market.
Key Facts
- Alabama's U6 underemployment rate was 9.5% as of the latest data.
- The U6 rate in Alabama is 2.5 percentage points higher than the standard unemployment rate.
- Underemployment has remained elevated in Alabama compared to the national average.
FAQs
Q: What does this economic trend measure?
A: The U6 underemployment rate measures the total number of unemployed, marginally attached, and part-time workers in Alabama as a percentage of the total civilian labor force.
Q: Why is this trend relevant for users or analysts?
A: The U6 rate provides a more comprehensive assessment of labor market conditions and slack, which is important for policymakers and economists analyzing the overall health of the Alabama economy.
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: The U6 underemployment rate is closely watched by the Federal Reserve and other policymakers to gauge the overall strength of the labor market and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The U6 data for Alabama is published monthly with a brief lag, providing timely insight into labor market conditions.
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Citation
U.S. Federal Reserve, Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Alabama (U6UNEM6AL), retrieved from FRED.