Unemployed Persons in Minnesota
LAUST270000000000004A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,297.00
Year-over-Year Change
-43.68%
Date Range
1/1/1976 - 1/1/2024
Summary
The 'Unemployed Persons in Minnesota' trend measures the number of people actively seeking work in the state of Minnesota. This metric is closely monitored by economists and policymakers to assess the strength of the state's labor market and overall economic conditions.
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 total number of people classified as unemployed in Minnesota according to the Bureau of Labor Statistics' Current Population Survey. It provides important insights into the health of the state's job market and can inform policy decisions aimed at promoting employment and economic growth.
Methodology
The data is collected through a monthly household survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Historical Context
Trends in Minnesota's unemployment levels are closely watched by the Federal Reserve, state government, and private sector analysts to gauge the performance of the state's economy.
Key Facts
- Minnesota's unemployment rate has averaged around 4% over the past decade.
- The state's unemployment level tends to be lower than the national average.
- Unemployment in Minnesota peaked during the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: The 'Unemployed Persons in Minnesota' metric tracks the total number of people in the state who are actively seeking employment but do not currently have a job.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health of Minnesota's labor market and can inform economic policymaking at the state and federal levels.
Q: How is this data collected or calculated?
A: The data is collected through a monthly household survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in Minnesota's unemployment levels are closely watched by the Federal Reserve, state government, and private sector analysts to gauge the performance of the state's economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The unemployment data for Minnesota is published on a monthly basis with a short time lag, allowing for timely analysis of labor market conditions.
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Citation
U.S. Federal Reserve, Unemployed Persons in Minnesota (LAUST270000000000004A), retrieved from FRED.