Not in Labor Force: Discouraged Workers for Massachusetts
DISCWORKMA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,600.00
Year-over-Year Change
-7.69%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Not in Labor Force: Discouraged Workers for Massachusetts' metric measures the number of people in Massachusetts who have stopped looking for work due to their belief that no jobs are available for them.
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 data series tracks the count of 'discouraged workers' in Massachusetts, which are individuals who have stopped searching for employment because they believe no jobs are available for them. Economists and policymakers monitor this metric to gauge the strength of the state's labor market and any hidden unemployment.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Discouraged worker counts are an important indicator for assessing economic conditions and the effectiveness of policy interventions.
Key Facts
- Massachusetts has over 20,000 discouraged workers as of the latest data.
- Discouraged worker numbers tend to rise during economic downturns.
- Discouraged workers are not counted in the official unemployment rate.
FAQs
Q: What does this economic trend measure?
A: The 'Not in Labor Force: Discouraged Workers for Massachusetts' metric measures the number of people in Massachusetts who have stopped looking for work due to their belief that no jobs are available for them.
Q: Why is this trend relevant for users or analysts?
A: Discouraged worker counts are an important indicator for assessing the strength of Massachusetts' labor market and hidden unemployment in the state.
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: Policymakers monitor discouraged worker numbers to gauge economic conditions and the effectiveness of interventions aimed at getting people back into the labor force.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be lags in reporting and revisions to previous periods.
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Citation
U.S. Federal Reserve, Not in Labor Force: Discouraged Workers for Massachusetts (DISCWORKMA), retrieved from FRED.