Number of Civilians Unemployed for 15 Weeks or Longer for Pennsylvania
UNEMP15PA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81,000.00
Year-over-Year Change
-65.18%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Number of Civilians Unemployed for 15 Weeks or Longer for Pennsylvania' metric tracks the number of individuals in Pennsylvania who have been jobless for an extended period. This data point is a key indicator of long-term unemployment and labor market trends 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 series measures the total number of unemployed Pennsylvania residents who have been out of work for 15 weeks or more. It provides insights into the persistence and severity of joblessness, which is a crucial consideration for policymakers and economists analyzing the health of the state's labor market.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to evaluate the effectiveness of employment programs and guide decisions on economic interventions.
Key Facts
- Pennsylvania's long-term unemployment rate is currently XX%.
- The number of Pennsylvanians unemployed for 15+ weeks has decreased by YY% since the previous year.
- Long-term unemployment is a key focus for policymakers seeking to promote economic recovery in the state.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of civilians in Pennsylvania who have been unemployed for 15 weeks or longer, providing insights into long-term joblessness in the state.
Q: Why is this trend relevant for users or analysts?
A: Long-term unemployment is a crucial indicator of labor market health and the effectiveness of employment programs, making this data point highly relevant for policymakers, economists, and others analyzing Pennsylvania's economic conditions.
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 use this metric to evaluate the impact of employment initiatives and inform decisions on economic interventions in Pennsylvania.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis, with a typical release lag of approximately one month.
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Citation
U.S. Federal Reserve, Number of Civilians Unemployed for 15 Weeks or Longer for Pennsylvania (UNEMP15PA), retrieved from FRED.