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 Wisconsin
U5UNEM5WI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.50
Year-over-Year Change
-30.00%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks the percentage of the Wisconsin labor force that is unemployed, discouraged, or marginally attached. It provides a broader measure of labor market slack beyond the official 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 rate includes not only those who are officially unemployed, but also discouraged workers who have stopped looking for jobs and other marginally attached workers. This metric offers a more comprehensive picture of labor market underutilization in Wisconsin.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using household survey responses.
Historical Context
This broader unemployment measure is closely watched by policymakers and economists to assess the strength of the Wisconsin labor market.
Key Facts
- The U5 unemployment rate is higher than the official unemployment rate.
- Discouraged workers and marginally attached workers are included in the U5 measure.
- The U5 rate provides a more comprehensive view of labor market slack.
FAQs
Q: What does this economic trend measure?
A: The U5 unemployment rate measures the percentage of the Wisconsin labor force that is unemployed, discouraged, or marginally attached to the workforce.
Q: Why is this trend relevant for users or analysts?
A: This broader measure of labor market underutilization is closely watched by policymakers and economists to assess the strength of the Wisconsin economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using household survey responses.
Q: How is this trend used in economic policy?
A: The U5 unemployment rate provides policymakers and economists with a more comprehensive view of labor market conditions in Wisconsin, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The U5 unemployment rate data is subject to the same update schedule and limitations as the official unemployment rate published by the Bureau of Labor Statistics.
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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 Wisconsin (U5UNEM5WI), retrieved from FRED.