Number of Civilians Unemployed for 15 Weeks or Longer for Ohio
UNEMP15OH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,000.00
Year-over-Year Change
-47.01%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Number of Civilians Unemployed for 15 Weeks or Longer for Ohio' metric tracks the number of individuals in Ohio who have been jobless for 15 weeks or more. This statistic is an important indicator of long-term unemployment in the state.
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 economic series measures the number of people in Ohio who have been unemployed for 15 weeks or more. It provides insight into the duration of joblessness and can help policymakers and economists assess the state of the labor market and identify potential areas for workforce development initiatives.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Population Survey.
Historical Context
This trend is widely used by economists, policymakers, and labor market analysts to evaluate the health of Ohio's economy and labor force.
Key Facts
- Ohio's long-term unemployment rate is currently at X.X%.
- The number of Ohioans unemployed for 15 weeks or more peaked during the [YEAR] recession.
- Long-term unemployment can have significant economic and social consequences for individuals and communities.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of civilians in Ohio who have been unemployed for 15 weeks or longer, providing insight into the duration of joblessness in the state.
Q: Why is this trend relevant for users or analysts?
A: The 'Number of Civilians Unemployed for 15 Weeks or Longer for Ohio' is an important indicator of labor market conditions and long-term unemployment in the state, which is crucial for policymakers, economists, and workforce development professionals.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and labor market analysts use this metric to evaluate the health of Ohio's economy, identify areas for workforce development initiatives, and inform decision-making around employment and social welfare programs.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with a typical lag of several weeks. There may be occasional revisions to the historical data based on updated population estimates or survey adjustments.
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Citation
U.S. Federal Reserve, Number of Civilians Unemployed for 15 Weeks or Longer for Ohio (UNEMP15OH), retrieved from FRED.