Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Slovak Republic
Annual, Seasonally Adjusted
LRUN24TTSKA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.18
Year-over-Year Change
-45.69%
Date Range
1/1/1999 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the U.S. unemployment rate, providing a key economic indicator that policymakers and analysts use to monitor labor market conditions.
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 unemployment rate for the total U.S. civilian labor force on an annual basis. It is a widely tracked metric that reflects the overall health and utilization of the nation's workforce.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Historical Context
The unemployment rate is a crucial input for Federal Reserve monetary policy and government fiscal decisions.
Key Facts
- The U.S. unemployment rate averaged 3.6% in 2019 before spiking to 14.7% in 2020 due to the COVID-19 pandemic.
- The unemployment rate is a lagging economic indicator, as it typically peaks several months after the start of a recession.
- Policymakers closely monitor the unemployment rate to assess the overall health of the labor market and guide decisions on interest rates and stimulus measures.
FAQs
Q: What does this economic trend measure?
A: The Annual, Seasonally Adjusted trend measures the overall unemployment rate for the U.S. civilian labor force on a yearly basis.
Q: Why is this trend relevant for users or analysts?
A: The unemployment rate is a key indicator of the health and utilization of the labor market, which is a crucial input for policymakers and analysts in assessing the broader state of the economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey 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: The unemployment rate is a crucial input for Federal Reserve monetary policy and government fiscal decisions, as policymakers use it to gauge the overall strength of the labor market and guide their policy responses.
Q: Are there update delays or limitations?
A: The unemployment rate data is released monthly, with the annual, seasonally adjusted figure typically published in early January for the previous year.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRUN24TTSKA156S), retrieved from FRED.