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 Montana
U6UNEM6MT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.20
Year-over-Year Change
-15.07%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the total unemployed, marginally attached workers, and those employed part-time for economic reasons as a percentage of the civilian labor force in Montana. It provides a broader view of labor market slack and underutilization of 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 U6 unemployment rate, also known as the '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' statistic, offers a more comprehensive measure of labor market conditions than the standard unemployment rate.
Methodology
The U.S. Bureau of Labor Statistics collects and calculates this data through its Current Population Survey.
Historical Context
This metric is closely watched by policymakers, economists, and analysts to gauge the overall health and utilization of the labor force.
Key Facts
- The U6 rate is a broader measure of labor underutilization than the standard unemployment rate.
- It includes the unemployed, marginally attached workers, and those employed part-time for economic reasons.
- The U6 rate is often higher than the official unemployment rate, providing a more comprehensive picture of labor market slack.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total unemployed, marginally attached workers, and those employed part-time for economic reasons as a percentage of the civilian labor force in Montana.
Q: Why is this trend relevant for users or analysts?
A: The U6 unemployment rate offers a more comprehensive view of labor market conditions and underutilization of the workforce, which is valuable for policymakers, economists, and analysts.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects and calculates this data through its Current Population Survey.
Q: How is this trend used in economic policy?
A: This metric is closely watched by policymakers, economists, and analysts to gauge the overall health and utilization of the labor force, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The U6 unemployment rate data is subject to the same update schedule and limitations as the standard unemployment rate published by the Bureau of Labor Statistics.
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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 Montana (U6UNEM6MT), retrieved from FRED.