Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for North Dakota
U1UNEM1ND • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.80
Year-over-Year Change
-42.86%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the share of the civilian labor force in North Dakota that has been unemployed for 15 weeks or longer. It provides insight into the persistence of unemployment 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 trend represents the percentage of North Dakota's civilian labor force that has been jobless for an extended period. This metric is closely watched by economists and policymakers to gauge the strength of the state's labor market and assess potential skills mismatches or structural unemployment issues.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Historical Context
This trend helps inform North Dakota's economic and workforce development policies.
Key Facts
- North Dakota's long-term unemployment rate was 9.5% in January 2023.
- The state's long-term unemployment has remained below the national average since 2015.
- Long-term joblessness is a key indicator of labor market slack and skills mismatches.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of North Dakota's civilian labor force that has been unemployed for 15 weeks or longer. It provides insight into persistent joblessness in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to gauge the strength of North Dakota's labor market and assess potential skills mismatches or structural unemployment issues.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Q: How is this trend used in economic policy?
A: This trend helps inform North Dakota's economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for North Dakota (U1UNEM1ND), retrieved from FRED.