Total Unemployed, as a Percent of the Civilian Labor Force for Idaho
U3UNEM3ID • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.50
Year-over-Year Change
-12.50%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Total Unemployed, as a Percent of the Civilian Labor Force for Idaho' measures the unemployment rate in the state of Idaho as a percentage of the total civilian labor force. This metric is a key indicator of economic conditions and labor market performance.
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
This series tracks the total number of unemployed persons in Idaho divided by the total civilian labor force, expressed as a percentage. It provides insight into the overall health of Idaho's economy and is used by policymakers, economists, and analysts to assess employment trends and guide economic decision-making.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This unemployment rate statistic is widely referenced in discussions of Idaho's economic policies and job market conditions.
Key Facts
- Idaho's unemployment rate averaged 3.2% in 2022.
- The state's unemployment rate reached a peak of 11.5% during the COVID-19 pandemic in 2020.
- Idaho has consistently maintained one of the lowest unemployment rates among U.S. states in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of unemployed persons in the state of Idaho as a percentage of the state's total civilian labor force.
Q: Why is this trend relevant for users or analysts?
A: The Idaho unemployment rate is a key indicator of the state's economic performance and labor market conditions, providing important insights for policymakers, businesses, and individuals.
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 Idaho unemployment rate is widely referenced in discussions of the state's economic policies and job market conditions, informing decision-making by policymakers, economists, and analysts.
Q: Are there update delays or limitations?
A: The data is updated monthly and is subject to revisions by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Total Unemployed, as a Percent of the Civilian Labor Force for Idaho (U3UNEM3ID), retrieved from FRED.