Civilian Labor Force for Minnesota
CIVLFMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,104,400.00
Year-over-Year Change
2.40%
Date Range
10/1/2003 - 7/1/2024
Summary
The Civilian Labor Force for Minnesota measures the total number of employed and unemployed individuals in the state's workforce. This economic indicator is important for understanding labor market trends and informing policy decisions.
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
The Civilian Labor Force for Minnesota represents the total number of individuals 16 years and older who are either employed or actively seeking employment in the state. This metric is a key indicator of the overall health and size of Minnesota's workforce.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Civilian Labor Force trend is used by policymakers, economists, and analysts to assess the strength of Minnesota's labor market and inform economic policies.
Key Facts
- Minnesota's civilian labor force totaled 3.13 million in 2022.
- The labor force participation rate in Minnesota was 68.1% in 2022.
- Minnesota's unemployment rate was 2.4% as of December 2022.
FAQs
Q: What does this economic trend measure?
A: The Civilian Labor Force for Minnesota measures the total number of employed and unemployed individuals in the state's workforce.
Q: Why is this trend relevant for users or analysts?
A: The Civilian Labor Force trend is a key indicator of the overall health and size of Minnesota's workforce, which is important for understanding labor market dynamics and informing economic policies.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Civilian Labor Force trend is used by policymakers, economists, and analysts to assess the strength of Minnesota's labor market and inform economic policies.
Q: Are there update delays or limitations?
A: The Civilian Labor Force data for Minnesota is published monthly with a typical release delay of 1-2 weeks.
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Citation
U.S. Federal Reserve, Civilian Labor Force for Minnesota (CIVLFMN), retrieved from FRED.