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 Connecticut
U6UNEM6CT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.20
Year-over-Year Change
-37.93%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the underemployment rate in Connecticut, 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 unemployment rate includes the total number of unemployed workers, marginally attached workers, and those employed part-time for economic reasons, as a percentage of the civilian labor force and marginally attached workers. This comprehensive metric offers insights into labor market slack and underutilization of the workforce.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
The U6 rate is closely monitored by policymakers and economists to gauge the overall health of the labor market.
Key Facts
- The U6 rate in Connecticut is higher than the standard unemployment rate.
- Marginally attached workers are those who are available for work but not actively searching.
- Part-time workers for economic reasons would prefer full-time employment.
FAQs
Q: What does this economic trend measure?
A: The U6 unemployment rate measures a broader definition of unemployment, including the total number of unemployed workers, marginally attached workers, and those employed part-time for economic reasons, as a percentage of the civilian labor force and marginally attached workers.
Q: Why is this trend relevant for users or analysts?
A: The U6 rate provides a more comprehensive view of labor market conditions and underutilization of the workforce, offering insights beyond the standard unemployment rate.
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 rate is closely monitored by policymakers and economists to gauge the overall health of the labor market and inform economic policies.
Q: Are there update delays or limitations?
A: The U6 data is subject to the same update schedule and limitations as 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 Connecticut (U6UNEM6CT), retrieved from FRED.