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 Idaho
U6UNEM6ID • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.50
Year-over-Year Change
-13.33%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator measures the total number of unemployed individuals, marginally attached workers, and part-time workers in Idaho, as a percentage of the total civilian labor force. It provides a comprehensive view of labor underutilization in the state.
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 broader measure of labor underutilization than the standard unemployment rate. It includes those who are unemployed, marginally attached to the labor force, and employed part-time for economic reasons. This metric offers a more complete picture of labor market conditions and the challenges faced by workers in Idaho.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through the Current Population Survey.
Historical Context
The U6 unemployment rate is closely monitored by policymakers and economists to understand the true level of labor market slack and the need for potential policy interventions.
Key Facts
- The U6 unemployment rate in Idaho is typically higher than the standard unemployment rate.
- Marginally attached workers and part-time workers for economic reasons make up a significant portion of the U6 unemployment measure.
- The U6 rate provides a more comprehensive understanding of labor market slack and the challenges faced by workers in the state.
FAQs
Q: What does this economic trend measure?
A: The U6 unemployment rate measures the total number of unemployed individuals, marginally attached workers, and part-time workers for economic reasons in Idaho, as a percentage of the total civilian labor force.
Q: Why is this trend relevant for users or analysts?
A: The U6 unemployment rate offers a more comprehensive view of labor market conditions and the challenges faced by workers in Idaho, which is crucial for policymakers and economists to understand the true level of labor market slack.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through the Current Population Survey.
Q: How is this trend used in economic policy?
A: The U6 unemployment rate is closely monitored by policymakers and economists to determine the need for potential policy interventions to address labor market challenges in Idaho.
Q: Are there update delays or limitations?
A: The U6 unemployment rate data is subject to the same update delays and limitations as the standard unemployment rate data provided 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 Idaho (U6UNEM6ID), retrieved from FRED.