Infra-Annual Labor Statistics: Working-Age Population Total: From 15 to 24 Years for United States
Annual, Seasonally Adjusted
LFWA24TTUSA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,972,330.00
Year-over-Year Change
0.49%
Date Range
1/1/1955 - 1/1/2024
Summary
The 'Annual, Seasonally Adjusted' trend measures the average number of unemployment insurance claims per week in the United States. This closely watched indicator provides insights into the health of the labor market.
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 represents the seasonally adjusted number of initial unemployment insurance claims filed per week by American workers. It is a leading indicator of economic conditions, as changes in the unemployment claims rate can signal shifts in hiring and layoff patterns.
Methodology
The data is collected and compiled by the U.S. Department of Labor from state workforce agencies.
Historical Context
Economists and policymakers monitor this metric to assess the strength of the labor market and broader economic trends.
Key Facts
- The average number of weekly unemployment claims in the U.S. was 219,000 in 2022.
- Unemployment claims spiked to over 6 million per week during the COVID-19 pandemic in 2020.
- Declining unemployment claims can signal a strengthening labor market and economic recovery.
FAQs
Q: What does this economic trend measure?
A: This trend measures the seasonally adjusted number of initial unemployment insurance claims filed by American workers each week.
Q: Why is this trend relevant for users or analysts?
A: The unemployment claims rate is a leading indicator of economic conditions, as changes in layoffs and hiring patterns can signal broader trends in the labor market and overall economy.
Q: How is this data collected or calculated?
A: The data is collected and compiled by the U.S. Department of Labor from state workforce agencies.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess the strength of the labor market and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The unemployment claims data is reported weekly, with a short lag period, making it a timely indicator of economic conditions.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LFWA24TTUSA647S), retrieved from FRED.