Number of Civilians Unemployed for 15 Weeks or Longer for Utah
UNEMP15UT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,500.00
Year-over-Year Change
-20.92%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Number of Civilians Unemployed for 15 Weeks or Longer for Utah' measures the number of individuals in Utah who have been unemployed for at least 15 consecutive weeks. This statistic provides important insights into the state's long-term unemployment trends.
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 indicator tracks the dynamics of long-term unemployment in Utah, which is a crucial factor in understanding the overall health of the state's labor market. The data can inform policymakers and analysts about the challenges faced by workers who experience extended periods without employment.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and labor market analysts to assess the effectiveness of employment policies and identify areas that may require targeted interventions.
Key Facts
- Utah's long-term unemployment rate is below the national average.
- The number of long-term unemployed individuals in Utah has declined since the COVID-19 pandemic.
- Long-term unemployment can have significant economic and social consequences for individuals and communities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of civilians in Utah who have been unemployed for 15 weeks or longer, providing insights into the state's long-term unemployment dynamics.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the overall health of Utah's labor market and informing policymakers and analysts about the challenges faced by workers experiencing extended periods of unemployment.
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: This trend is closely monitored by economists, policymakers, and labor market analysts to assess the effectiveness of employment policies and identify areas that may require targeted interventions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential limitations associated with household survey-based labor market statistics.
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Citation
U.S. Federal Reserve, Number of Civilians Unemployed for 15 Weeks or Longer for Utah (UNEMP15UT), retrieved from FRED.