Total Unemployed, Plus Discouraged Workers, Plus All Other Marginally Attached Workers, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Montana
U5UNEM5MT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
-13.04%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the percentage of the total labor force in Montana that is unemployed, discouraged, or marginally attached to the workforce. It provides a broader and more comprehensive view of labor market slack 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 U5 unemployment metric includes the total number of unemployed persons, discouraged workers, and all other marginally attached workers, expressed as a percentage of the civilian labor force plus all marginally attached workers. This more expansive measure offers insight into labor market conditions and the degree of labor market underutilization in Montana.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to gauge the overall health and resiliency of the Montana labor market.
Key Facts
- Montana's U5 unemployment rate was 8.2% in December 2022.
- The U5 metric is broader than the standard unemployment rate, which was 2.6% in Montana during the same period.
- The U5 rate has fluctuated between 7-9% in Montana over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the total labor force in Montana that is unemployed, discouraged, or marginally attached to the workforce.
Q: Why is this trend relevant for users or analysts?
A: The U5 unemployment metric provides a more comprehensive view of labor market slack and underutilization than the standard unemployment rate, offering valuable insights for policymakers and economists.
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: Policymakers and economists use this metric to gauge the overall health and resiliency of the Montana labor market, which informs policy decisions and economic analyses.
Q: Are there update delays or limitations?
A: The U5 unemployment data for Montana is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Total Unemployed, Plus Discouraged Workers, Plus All Other Marginally Attached Workers, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Montana (U5UNEM5MT), retrieved from FRED.