Not in Labor Force: Discouraged Workers for Connecticut
DISCWORKCT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,700.00
Year-over-Year Change
-42.55%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Not in Labor Force: Discouraged Workers for Connecticut' trend measures the number of people in Connecticut who are not actively looking for work due to discouragement about their employment prospects.
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 provides insight into the labor force participation rate and the broader employment situation in Connecticut. Discouraged workers represent an underutilized pool of potential labor that is not being captured in the state's unemployment statistics.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in discouraged workers are closely watched by policymakers and economists to understand the underlying strength of the labor market.
Key Facts
- Connecticut's discouraged worker count reached a high of 27,000 in 2010.
- The number of discouraged workers declined by over 50% between 2010 and 2019.
- Discouraged workers are not included in the official unemployment rate.
FAQs
Q: What does this economic trend measure?
A: The 'Not in Labor Force: Discouraged Workers for Connecticut' trend measures the number of people in Connecticut who have stopped looking for work due to a lack of available jobs or perceived lack of employment opportunities.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important context for understanding the true state of the labor market in Connecticut beyond just the official unemployment rate. Tracking discouraged workers can give insight into underutilized labor and workforce participation.
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: Trends in discouraged workers are closely watched by policymakers and economists to understand the underlying strength of the labor market and assess the need for interventions or policy changes.
Q: Are there update delays or limitations?
A: The data is published monthly by the Federal Reserve, but there may be some delays in reporting compared to the official unemployment statistics.
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Citation
U.S. Federal Reserve, Not in Labor Force: Discouraged Workers for Connecticut (DISCWORKCT), retrieved from FRED.