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 Ohio
U6UNEM6OH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.30
Year-over-Year Change
-23.16%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the total number of unemployed individuals, plus those marginally attached to the labor force, plus those employed part-time for economic reasons, as a percentage of the civilian labor force and marginally attached workers in Ohio.
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
This broader measure of labor underutilization provides a more comprehensive view of labor market slack and challenges than the official unemployment rate. It is closely watched by economists and policymakers to assess the health and recovery of the labor market.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
This trend is a key input for Federal Reserve and state policymakers in assessing labor market conditions and informing economic policy decisions.
Key Facts
- This measure is broader than the official U-3 unemployment rate.
- It includes discouraged workers and those employed part-time for economic reasons.
- The U6 rate tends to be higher than the headline unemployment rate.
FAQs
Q: What does this economic trend measure?
A: This trend measures a broader measure of labor underutilization, including the unemployed, marginally attached workers, and those employed part-time for economic reasons, as a percentage of the total labor force in Ohio.
Q: Why is this trend relevant for users or analysts?
A: This more comprehensive measure of labor market slack provides valuable insights into the health and recovery of the labor market that are closely watched by economists and policymakers.
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: This trend is a key input for Federal Reserve and state policymakers in assessing labor market conditions and informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around one month.
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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 Ohio (U6UNEM6OH), retrieved from FRED.