Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Colorado
U4UNEM4CO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
-33.33%
Date Range
10/1/2003 - 7/1/2024
Summary
This metric tracks the total number of unemployed and discouraged workers in Colorado as a percentage of the civilian labor force plus discouraged workers. It provides a comprehensive view of labor underutilization 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 U4UNEM4CO series combines the unemployed and 'discouraged workers' (those who have stopped looking for work) in Colorado and expresses this total as a share of the expanded labor force. This gives a broader perspective on labor market slack beyond the standard unemployment rate.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by policymakers and analysts to assess the true level of labor market distress in Colorado.
Key Facts
- Colorado's U4 rate was 7.5% in 2022.
- The U4 rate peaked at 13.2% during the COVID-19 pandemic.
- The U4 rate provides a broader measure of labor market slack than the standard unemployment rate.
FAQs
Q: What does this economic trend measure?
A: The U4UNEM4CO series measures the total number of unemployed and discouraged workers in Colorado as a percentage of the expanded civilian labor force.
Q: Why is this trend relevant for users or analysts?
A: This broader measure of labor market slack is important for policymakers and economists to fully understand the depth of employment challenges in Colorado.
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 U4 rate is used by policymakers and analysts to assess the true level of labor market distress and inform policy decisions in Colorado.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month release lag. There may be limitations in capturing all discouraged workers.
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Citation
U.S. Federal Reserve, Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Colorado (U4UNEM4CO), retrieved from FRED.