Number of Civilians Unemployed for 15 Weeks or Longer for Minnesota
UNEMP15MN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,100.00
Year-over-Year Change
-55.72%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Number of Civilians Unemployed for 15 Weeks or Longer for Minnesota' measures the number of people in Minnesota who have been jobless for an extended period. This is a key economic indicator for evaluating the state's labor market and employment conditions.
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 series tracks the population of long-term unemployed individuals in Minnesota, defined as those who have been out of work for 15 weeks or more. It provides insights into the challenges facing job seekers and the overall health of the state's economy.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this indicator to inform decisions on workforce development, unemployment benefits, and economic stimulus measures.
Key Facts
- Minnesota's long-term unemployment rate is currently X.X%.
- The number of long-term unemployed in Minnesota has decreased by Y% since the previous year.
- Long-term unemployment is a persistent challenge for certain demographic groups in the state.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of civilians in Minnesota who have been unemployed for 15 weeks or longer, providing insights into the state's long-term joblessness.
Q: Why is this trend relevant for users or analysts?
A: Long-term unemployment is a crucial measure of labor market health, as it reflects the difficulties job seekers face in finding stable employment. This data is essential for policymakers and economists evaluating the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Population Survey conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to inform decisions on workforce development programs, unemployment benefits, and the need for economic stimulus measures in Minnesota.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months. The timeliness and granularity of the information may be subject to limitations inherent in the survey-based data collection process.
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Citation
U.S. Federal Reserve, Number of Civilians Unemployed for 15 Weeks or Longer for Minnesota (UNEMP15MN), retrieved from FRED.