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 Missouri
U6UNEM6MO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.00
Year-over-Year Change
-29.41%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic trend measures a broader measure of unemployment in Missouri, including those marginally attached to the labor force and employed part-time for economic reasons. It provides a more comprehensive view of labor market slack.
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 captures a wider range of unemployed and underemployed individuals, including those who have stopped looking for work or are working part-time due to economic conditions. This data offers a more complete picture of labor market health in Missouri.
Methodology
The U.S. Bureau of Labor Statistics calculates this rate using survey data on employment status and reasons for part-time work.
Historical Context
Policymakers and economists closely monitor the U6 rate to gauge the overall strength of the labor market.
Key Facts
- The U6 rate includes the officially unemployed, marginally attached workers, and part-time workers for economic reasons.
- The U6 rate in Missouri is typically higher than the official unemployment rate.
- Monitoring the U6 rate provides a more comprehensive view of labor market conditions.
FAQs
Q: What does this economic trend measure?
A: The U6 unemployment rate in Missouri measures a broader set of unemployed and underemployed individuals, including those marginally attached to the labor force and employed part-time for economic reasons.
Q: Why is this trend relevant for users or analysts?
A: The U6 rate offers a more comprehensive view of labor market health and slack, providing important context beyond the official unemployment rate.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics calculates the U6 rate using survey data on employment status and reasons for part-time work.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the U6 rate to gauge the overall strength of the labor market and shape appropriate policy responses.
Q: Are there update delays or limitations?
A: The U6 data for Missouri is updated regularly by the Bureau of Labor Statistics, but may have a short delay compared to the official unemployment rate.
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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 Missouri (U6UNEM6MO), retrieved from FRED.