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 Arizona
U6UNEM6AZ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.20
Year-over-Year Change
-28.71%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator measures the level of underutilized labor in Arizona, including the unemployed, marginally attached workers, and those employed part-time for economic reasons.
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-6 unemployment rate provides a more comprehensive assessment of labor market conditions by capturing a broader range of underutilized workers beyond the standard unemployment rate. It is a key measure for economists and policymakers to evaluate the health of the labor market.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
The U-6 rate is used to inform economic and workforce development policies in Arizona.
Key Facts
- The U-6 rate in Arizona is higher than the standard unemployment rate.
- Underemployment has increased during economic downturns.
- The U-6 rate provides a more comprehensive view of labor market slack.
FAQs
Q: What does this economic trend measure?
A: The U-6 unemployment rate measures the total number of unemployed, underemployed, and marginally attached workers in Arizona as a percentage of the total civilian labor force.
Q: Why is this trend relevant for users or analysts?
A: The U-6 rate provides a more complete picture of labor market conditions and underutilization of workers, which is crucial for policymakers and economists evaluating the health of the Arizona 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 U-6 rate informs workforce development and economic policies in Arizona, as it provides a comprehensive assessment of labor market slack and underutilization.
Q: Are there update delays or limitations?
A: The U-6 data for Arizona is published monthly with a slight delay, similar to the standard unemployment rate.
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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 Arizona (U6UNEM6AZ), retrieved from FRED.