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 Minnesota
U6UNEM6MN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.20
Year-over-Year Change
-13.89%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks the broader unemployment rate in Minnesota, including not just the officially unemployed, but also 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 U6 unemployment rate provides a more comprehensive measure of labor underutilization than the standard unemployment rate. It captures a wider range of individuals facing challenges in the labor market, offering economists a more nuanced view of employment conditions.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts closely monitor the U6 rate to assess the overall health of the labor market and guide appropriate policy responses.
Key Facts
- The U6 rate is significantly higher than the standard unemployment rate.
- It includes discouraged workers and those working part-time due to economic conditions.
- Tracking the U6 rate helps policymakers understand the full extent of labor market challenges.
FAQs
Q: What does this economic trend measure?
A: The U6 unemployment rate tracks a broader definition of labor underutilization, including the officially unemployed, marginally attached workers, and those employed part-time for economic reasons.
Q: Why is this trend relevant for users or analysts?
A: The U6 rate provides a more comprehensive view of labor market conditions, helping economists and policymakers assess the full extent of employment challenges and guide appropriate policy responses.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the U6 rate to gauge the overall health of the labor market and inform decisions on fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The U6 data is released on the same schedule as the standard unemployment rate, with occasional revisions to past figures.
Related Trends
Average Weekly Earnings of All Employees: Private Service Providing in Minnesota
SMU27000000800000011A
Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Minnesota
MNMANQGSP
Regional Price Parities: Services: Housing for Minnesota
MNRPPSERVERENT
Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Minnesota
MNNMMPMANRGSP
Continued Claims (Insured Unemployment) in Minnesota
MNCCLAIMS
State Government Tax Collections, Occupation and Business Licenses in Minnesota
MNBUSLICTAX
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 Minnesota (U6UNEM6MN), retrieved from FRED.