Not in Labor Force: Discouraged Workers for Arizona
DISCWORKAZ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,000.00
Year-over-Year Change
23.08%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Not in Labor Force: Discouraged Workers for Arizona' economic trend measures the number of people in Arizona who have stopped looking for work due to perceived lack of available jobs.
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 indicator provides insight into the labor market conditions and workforce participation in Arizona. It is used by economists and policymakers to assess the strength of the state's economy and identify potential areas for employment growth or policy interventions.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the employment landscape and assessing the effectiveness of economic policies in Arizona.
Key Facts
- The number of discouraged workers in Arizona reached a high of 46,000 in 2010 during the Great Recession.
- Discouraged workers are not included in the official unemployment rate, providing a more comprehensive view of labor market conditions.
- The share of discouraged workers in Arizona's labor force has declined from a peak of 1.6% in 2010 to 0.7% in 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people in Arizona who have stopped looking for work due to perceived lack of available jobs.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the strength of the labor market and workforce participation in Arizona, which is important for economists and policymakers to assess the state's economic conditions.
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: This trend is used by economists and policymakers to understand the employment landscape and assess the effectiveness of economic policies in Arizona.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in reporting due to the survey collection process.
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Citation
U.S. Federal Reserve, Not in Labor Force: Discouraged Workers for Arizona (DISCWORKAZ), retrieved from FRED.