Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Florida
U6UNEM6FL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.30
Year-over-Year Change
-37.62%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures the underutilization of labor in Florida, including unemployed individuals, marginally attached workers, and those employed part-time for economic reasons. It provides a broader assessment of labor market conditions beyond 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 U6 unemployment rate is a comprehensive measure of labor underutilization that goes beyond the official unemployment rate. It captures a wider range of individuals who are jobless, underemployed, or marginally attached to the labor force, providing a more nuanced picture of economic health and utilization of available labor.
Methodology
The data is collected through the U.S. Current Population Survey conducted by the Bureau of Labor Statistics.
Historical Context
This broader unemployment metric is closely watched by policymakers, economists, and market analysts to gauge the overall strength and resilience of the labor market.
Key Facts
- The U6 rate in Florida is higher than the official unemployment rate.
- It captures a larger pool of underutilized labor than the standard measure.
- The U6 rate provides a more comprehensive assessment of labor market slack.
FAQs
Q: What does this economic trend measure?
A: This trend measures a broader definition of unemployment and labor underutilization in Florida, including the officially unemployed, marginally attached workers, and those employed part-time for economic reasons.
Q: Why is this trend relevant for users or analysts?
A: The U6 unemployment rate offers a more comprehensive assessment of labor market conditions and slack, providing valuable insights for policymakers, economists, and market participants beyond the standard unemployment metric.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Current Population Survey conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The U6 unemployment rate is closely monitored by policymakers, economists, and market analysts to gauge the overall strength and resilience of the labor market, which informs economic policies and decisions.
Q: Are there update delays or limitations?
A: The U6 unemployment data is subject to the same update schedule and potential limitations as the standard unemployment rate data released by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Florida (U6UNEM6FL), retrieved from FRED.