Unemployed Persons in Massachusetts
LAUST250000000000004A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157,366.00
Year-over-Year Change
-33.19%
Date Range
1/1/1976 - 1/1/2024
Summary
The 'Unemployed Persons in Massachusetts' metric tracks the number of people without jobs in the state of Massachusetts. This key labor market indicator is closely monitored by economists and policymakers to assess economic conditions and guide employment policies.
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 individuals in the state of Massachusetts. It is a vital data point used to analyze trends in the state's labor force, identify potential skills gaps, and inform workforce development initiatives.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Tracking the unemployment rate helps policymakers at the state and federal level make informed decisions about economic and labor market policies.
Key Facts
- Massachusetts unemployment rate was 3.5% as of the latest data.
- The number of unemployed persons in Massachusetts has decreased by 25% since 2019.
- The state's unemployment rate is consistently lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of unemployed individuals in the state of Massachusetts. It is a key indicator of the health of the state's labor market.
Q: Why is this trend relevant for users or analysts?
A: The unemployment rate in Massachusetts is a crucial data point for economists, policymakers, and businesses to monitor in order to assess economic conditions and guide workforce development initiatives.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Tracking the unemployment rate helps policymakers at the state and federal level make informed decisions about economic and labor market policies, such as job training programs and business incentives.
Q: Are there update delays or limitations?
A: The data is published monthly with a slight delay, typically 1-2 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Unemployed Persons in Massachusetts (LAUST250000000000004A), retrieved from FRED.