Not in Labor Force: Discouraged Workers for Maine
DISCWORKME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
900.00
Year-over-Year Change
12.50%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Not in Labor Force: Discouraged Workers for Maine' trend measures the number of unemployed people in Maine who have stopped looking for work due to discouragement about their job 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 metric provides insight into the extent of labor market detachment and underutilization of the Maine workforce. It is an important indicator for policymakers and economists seeking to understand the labor force participation dynamics in the state.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to evaluate the effectiveness of workforce development and economic policies in Maine.
Key Facts
- Maine had 7,000 discouraged workers in 2022.
- Discouraged workers are not counted in the official unemployment rate.
- The number of discouraged workers can indicate the strength of the labor market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of unemployed people in Maine who have stopped looking for work due to discouragement about their job prospects.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the extent of labor market detachment and underutilization of the Maine workforce, which is important for policymakers and economists seeking to understand the state's labor force participation dynamics.
Q: How is this data collected or calculated?
A: The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to evaluate the effectiveness of workforce development and economic policies in Maine.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions of the U.S. Bureau of Labor Statistics household survey.
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Citation
U.S. Federal Reserve, Not in Labor Force: Discouraged Workers for Maine (DISCWORKME), retrieved from FRED.