Hornstein-Kudlyak-Lange Non-Employment Index
NEIM156SFRBRIC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.82
Year-over-Year Change
0.99%
Date Range
1/1/1994 - 7/1/2025
Summary
The Hornstein-Kudlyak-Lange Non-Employment Index measures the share of prime-age individuals not employed in the U.S. This broad labor market metric provides insights into long-term employment trends beyond the unemployment rate.
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
The Non-Employment Index captures individuals who are unemployed, out of the labor force, or underemployed, offering a more comprehensive view of labor market slack than the standard unemployment rate. Economists and policymakers use this index to assess the health and recovery of the labor market.
Methodology
The data is calculated by the Federal Reserve Bank of Richmond based on household survey data from the U.S. Bureau of Labor Statistics.
Historical Context
The Non-Employment Index is a key indicator monitored by the Federal Reserve and other institutions to guide economic and monetary policy decisions.
Key Facts
- The index ranges from 0 to 1, with higher values indicating more labor market slack.
- The index rose sharply during the COVID-19 recession, reaching a peak of 0.363 in April 2020.
- The index has gradually declined since its pandemic peak as the labor market has recovered.
FAQs
Q: What does this economic trend measure?
A: The Hornstein-Kudlyak-Lange Non-Employment Index measures the share of prime-age individuals not employed in the United States, capturing a broader view of labor market conditions than the standard unemployment rate.
Q: Why is this trend relevant for users or analysts?
A: The Non-Employment Index provides a more comprehensive assessment of labor market slack, which is crucial for economists and policymakers in evaluating the health and recovery of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve Bank of Richmond based on household survey data from the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Non-Employment Index is a key indicator monitored by the Federal Reserve and other institutions to guide economic and monetary policy decisions, as it offers insights into long-term employment trends.
Q: Are there update delays or limitations?
A: The Non-Employment Index data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Hornstein-Kudlyak-Lange Non-Employment Index (NEIM156SFRBRIC), retrieved from FRED.