Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Hawaii
U1UNEM1HI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.20
Year-over-Year Change
-79.66%
Date Range
10/1/2003 - 7/1/2024
Summary
This trend measures the percentage of the civilian labor force in Hawaii that has been unemployed for 15 weeks or longer. It provides insight into the long-term unemployment situation in the state.
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 Persons Unemployed 15 Weeks or Longer metric tracks the proportion of the labor force in Hawaii that has been jobless for an extended period. This indicator is used by economists and policymakers to assess the depth and persistence of unemployment challenges.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
Trends in long-term unemployment are closely monitored for their implications on the health of the labor market and broader economy.
Key Facts
- Long-term unemployment can lead to skills erosion and reduced employability.
- Persistently high long-term unemployment can strain social safety nets.
- Reducing long-term joblessness is a key policy objective for economic stability.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the percentage of the civilian labor force in Hawaii that has been unemployed for 15 weeks or longer.
Q: Why is this trend relevant for users or analysts?
A: Prolonged joblessness can have significant social and economic consequences, making this indicator crucial for understanding the labor market and informing policy decisions.
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: Trends in long-term unemployment are closely monitored by economists and policymakers to assess the health of the labor market and broader economy, and to inform policy interventions.
Q: Are there update delays or limitations?
A: The data is updated monthly, but may be subject to revisions and limitations inherent in survey-based labor force statistics.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Hawaii (U1UNEM1HI), retrieved from FRED.