Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona
Annual, Not Seasonally Adjusted
AZDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37,883.30
Year-over-Year Change
90.51%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the average duration of unemployment in Arizona. This metric is crucial for economists and policymakers to understand labor market dynamics and the effectiveness of 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 economic indicator tracks the average number of weeks that unemployed individuals in Arizona have been without a job. It provides insights into the job market, including the challenges faced by job seekers and the efficiency of the state's employment support systems.
Methodology
The data is collected through surveys of households in Arizona by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers use this trend to evaluate the impact of economic policies and make informed decisions to support job creation and workforce development.
Key Facts
- Arizona's average unemployment duration was 24.2 weeks in 2022.
- The national average unemployment duration was 21.6 weeks in 2022.
- Prolonged unemployment can lead to skills erosion and social challenges.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the average duration of unemployment in the state of Arizona, providing insights into the state's labor market dynamics.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for economists and policymakers to understand the challenges faced by job seekers in Arizona and evaluate the effectiveness of employment policies and support programs.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households in Arizona by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to assess the impact of economic policies and make informed decisions to support job creation and workforce development in Arizona.
Q: Are there update delays or limitations?
A: The data is published annually, with a potential delay of several months from the end of the reference period.
Related Trends
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AZUTILNQGSP
Civilian Labor Force in Arizona
AZLF
Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Arizona
AZAMUSERGSP
Health Care and Social Assistance Earnings in Arizona
AZEHEA
Exports of Goods: Non-Manufactured Commodities for Arizona
EXPNONAZ
Per Capita Personal Income in Arizona
AZPCPI
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (AZDURMANNGSP), retrieved from FRED.