Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Rhode Island
U4UNEM4RI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.60
Year-over-Year Change
-30.30%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the civilian labor force in Rhode Island that is unemployed or discouraged from seeking work. It provides a broader view of labor market health than the standard unemployment rate.
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 U4 unemployment rate includes total unemployed workers plus those who have become discouraged and stopped searching for jobs. This expanded metric gives economists and policymakers a more complete picture of labor market conditions and underutilized workforce capacity in Rhode Island.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on household survey responses.
Historical Context
This trend is used to inform labor market policies and economic forecasting at the state level.
Key Facts
- The U4 unemployment rate in Rhode Island was 10.7% as of the latest data.
- This metric has remained above the standard unemployment rate since the COVID-19 pandemic began.
- Discouraged workers are not counted in the official unemployment rate.
FAQs
Q: What does this economic trend measure?
A: The U4 unemployment rate includes total unemployed workers plus those who have become discouraged and stopped searching for jobs in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This expanded metric gives economists and policymakers a more complete picture of labor market conditions and underutilized workforce capacity in Rhode Island.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on household survey responses.
Q: How is this trend used in economic policy?
A: This trend is used to inform labor market policies and economic forecasting at the state level in Rhode Island.
Q: Are there update delays or limitations?
A: The data is updated monthly but may have a short publication delay.
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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 Rhode Island (U4UNEM4RI), retrieved from FRED.