All Employees: Service-Providing in Utah
Annual
SMU49000000700000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,441.20
Year-over-Year Change
37.07%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the annual average unemployment rate in the United States. This metric is a key indicator of the overall health and strength of the labor market.
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 Annual trend represents the average unemployment rate across all 12 months of a given year. It is a widely tracked economic indicator used by policymakers, analysts, and economists to assess long-term employment conditions and trends.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual unemployment rate is a critical input for monetary and fiscal policy decisions.
Key Facts
- The annual average unemployment rate in the U.S. was 3.7% in 2019.
- The rate reached a high of 14.7% in April 2020 due to the COVID-19 pandemic.
- Historically, the annual rate has ranged from around 3% to 10% over the past several decades.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average unemployment rate in the United States across all 12 months of a given year.
Q: Why is this trend relevant for users or analysts?
A: The annual unemployment rate is a key indicator of labor market conditions and overall economic health, making it highly relevant for policymakers, economists, and market analysts.
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 annual unemployment rate is a critical input for monetary and fiscal policy decisions made by the Federal Reserve and government policymakers.
Q: Are there update delays or limitations?
A: The annual unemployment rate data is released on a regular schedule with minimal delays, providing a reliable and timely indicator of labor market trends.
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Citation
U.S. Federal Reserve, Annual (SMU49000000700000001A), retrieved from FRED.