Total Unemployed, as a Percent of the Civilian Labor Force for Utah
U3UNEM3UT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.60
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 Utah' metric tracks the percentage of the Utah civilian labor force that is unemployed and actively seeking work.
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 data series provides key insights into the labor market health and employment conditions in the state of Utah. It is used by economists, policymakers, and analysts to assess the strength of the Utah economy and inform economic and workforce development decisions.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The unemployment rate is a leading indicator used to evaluate the overall state of the Utah economy.
Key Facts
- Utah's unemployment rate was 2.4% as of the latest data.
- The state's unemployment rate is consistently lower than the national average.
- The Utah labor force includes over 1.5 million civilian workers.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the percentage of the civilian labor force in Utah that is unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The Utah unemployment rate is a key indicator of the state's economic health and labor market conditions, used by policymakers, economists, and businesses to inform decisions.
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 Utah unemployment rate is closely monitored by state and federal policymakers to evaluate the effectiveness of economic and workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month lag between the reference period and the public release.
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Citation
U.S. Federal Reserve, Total Unemployed, as a Percent of the Civilian Labor Force for Utah (U3UNEM3UT), retrieved from FRED.