Unemployed Persons in Pennsylvania
LAUST420000000000004A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
239,281.00
Year-over-Year Change
-51.11%
Date Range
1/1/1976 - 1/1/2024
Summary
The 'Unemployed Persons in Pennsylvania' statistic measures the number of people in the state who are actively seeking work but unable to find employment. This data is crucial for economists and policymakers to understand labor market trends and the health of the state's economy.
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 data series from the U.S. Bureau of Labor Statistics tracks the monthly number of unemployed individuals in Pennsylvania. It is an important indicator of economic conditions, as rising unemployment can signal weaknesses in the job market and broader economic challenges facing the state.
Methodology
The data is collected through household surveys conducted by the Census Bureau on behalf of the BLS.
Historical Context
Unemployment figures are closely monitored by government agencies, businesses, and financial markets to assess the strength of the economy and guide policy decisions.
Key Facts
- Pennsylvania's unemployment rate was 4.9% as of the latest data.
- The state's unemployment level has fluctuated between 3-7% over the past decade.
- Unemployment claims spiked during the COVID-19 pandemic but have since declined.
FAQs
Q: What does this economic trend measure?
A: The 'Unemployed Persons in Pennsylvania' statistic tracks the monthly number of people in the state who are actively seeking work but unable to find employment.
Q: Why is this trend relevant for users or analysts?
A: Unemployment figures are a crucial indicator of economic conditions, as rising joblessness can signal weaknesses in the labor market and broader economic challenges facing the state.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Unemployment statistics are closely monitored by government agencies, businesses, and financial markets to assess the strength of the economy and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be a short delay in reporting the latest figures.
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Citation
U.S. Bureau of Labor Statistics, Unemployed Persons in Pennsylvania (LAUST420000000000004A), retrieved from FRED.