Total Unemployed, as a Percent of the Civilian Labor Force for Pennsylvania
U3UNEM3PA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.40
Year-over-Year Change
-50.72%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Total Unemployed, as a Percent of the Civilian Labor Force for Pennsylvania' measures the unemployment rate in Pennsylvania. This key economic indicator provides insight into the strength of the state's labor market and can inform policy decisions.
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 represents the percentage of the civilian labor force in Pennsylvania that is currently unemployed. The unemployment rate is a vital statistic used by economists, policymakers, and analysts to assess economic conditions and guide fiscal and monetary policies.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Pennsylvania unemployment rate is monitored closely by the Federal Reserve and state government to support data-driven economic policies.
Key Facts
- Pennsylvania's unemployment rate was 4.5% as of the latest data.
- The state's unemployment level has declined steadily since the COVID-19 pandemic.
- Manufacturing and healthcare are major sources of employment in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: This series measures the percentage of the civilian labor force in Pennsylvania that is currently unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The Pennsylvania unemployment rate is a key indicator of the state's economic health and labor market conditions, providing important context for policymakers, businesses, and individual 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 Pennsylvania unemployment rate is closely monitored by the Federal Reserve and state government to support data-driven economic policies and workforce development initiatives.
Q: Are there update delays or limitations?
A: The unemployment data is published monthly with a brief delay, providing timely insight into the state's labor market conditions.
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Citation
U.S. Federal Reserve, Total Unemployed, as a Percent of the Civilian Labor Force for Pennsylvania (U3UNEM3PA), retrieved from FRED.