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 Hawaii
U6UNEM6HI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.40
Year-over-Year Change
-56.76%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks a broader measure of labor underutilization in Hawaii, including unemployed workers, marginally attached workers, and those employed part-time for economic reasons.
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 provides a more comprehensive assessment of labor market conditions by capturing individuals who are unemployed, underemployed, or marginally attached to the workforce. It is a key metric for economists and policymakers evaluating the overall health of the labor market.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The U6 rate is used to inform economic and workforce development policies in Hawaii.
Key Facts
- The U6 rate in Hawaii was 8.7% as of the latest data.
- This measure of labor underutilization is higher than the official unemployment rate.
- The U6 rate provides a more comprehensive view of labor market slack in the state.
FAQs
Q: What does this economic trend measure?
A: The U6 unemployment rate measures a broader definition of labor underutilization, including the 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 rate offers a more comprehensive assessment of labor market conditions and slack, providing important context for economists, policymakers, and labor market analysts.
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 U6 rate is used to inform economic and workforce development policies in Hawaii, as it provides a more complete picture of labor market health and utilization.
Q: Are there update delays or limitations?
A: The U6 data for Hawaii is published monthly, with the latest data typically available within a few weeks.
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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 Hawaii (U6UNEM6HI), retrieved from FRED.