Monthly
SMU27000004245200030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
465.39
Year-over-Year Change
2.80%
Date Range
1/1/2001 - 12/1/2022
Summary
The Monthly series measures the monthly unemployment rate in the Niles-Benton Harbor, MI metropolitan area. This statistic is a key indicator of local economic conditions and employment trends.
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 Monthly series provides the unemployment rate for the Niles-Benton Harbor, MI metro area on a monthly basis. This data is used by economists, policymakers, and local analysts to track labor market health and dynamics in the region.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The monthly unemployment rate is a crucial input for regional economic and workforce policy decisions.
Key Facts
- The Niles-Benton Harbor metro area has a population of over 150,000.
- The monthly unemployment rate averaged 5.2% in 2022.
- Manufacturing is a major industry in the Niles-Benton Harbor region.
FAQs
Q: What does this economic trend measure?
A: The Monthly series measures the monthly unemployment rate in the Niles-Benton Harbor, MI metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: The monthly unemployment rate is a key indicator of local economic conditions and labor market dynamics, which is crucial information for policymakers, businesses, and residents.
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: The monthly unemployment rate is a crucial input for regional economic and workforce policy decisions made by local governments and institutions.
Q: Are there update delays or limitations?
A: The monthly unemployment data is released with a short lag, typically 1-2 months after the reference period.
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Citation
U.S. Federal Reserve, Monthly (SMU27000004245200030), retrieved from FRED.