Not in Labor Force: Discouraged Workers for North Dakota
DISCWORKND • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
500.00
Year-over-Year Change
-44.44%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Not in Labor Force: Discouraged Workers for North Dakota' trend measures the number of people in North Dakota who are not in the labor force because they have become discouraged about their job prospects and stopped looking for work.
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 state of the North Dakota labor market and the underlying factors influencing the participation rate. Discouraged workers represent a portion of the broader 'not in labor force' population that could potentially reenter the workforce if conditions improve.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
Tracking the discouraged worker trend can help policymakers and economists assess the strength and resilience of the North Dakota labor market.
Key Facts
- The number of discouraged workers in North Dakota reached a peak in 2020.
- Discouraged workers are not included in the official unemployment rate calculation.
- The discouraged worker trend provides insight into labor market slack in North Dakota.
FAQs
Q: What does this economic trend measure?
A: The 'Not in Labor Force: Discouraged Workers for North Dakota' trend measures the number of people in North Dakota who have stopped looking for work due to discouragement about their job prospects.
Q: Why is this trend relevant for users or analysts?
A: Tracking the discouraged worker trend provides important insight into the strength and resilience of the North Dakota labor market, as these individuals represent a portion of the workforce that could potentially reenter if conditions improve.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use the discouraged worker trend to assess the overall health of the North Dakota labor market and inform decisions related to economic policy and workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the Current Population Survey.
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Citation
U.S. Federal Reserve, Not in Labor Force: Discouraged Workers for North Dakota (DISCWORKND), retrieved from FRED.