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 Washington
U6UNEM6WA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.20
Year-over-Year Change
-21.37%
Date Range
10/1/2003 - 7/1/2024
Summary
This economic indicator tracks a broader measure of unemployment in Washington state, including those marginally attached to the labor force and working part-time for economic reasons. It provides a more comprehensive picture of labor market conditions than 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 represents the total number of unemployed people, plus all marginally attached workers, plus those employed part-time for economic reasons, as a percentage of the total civilian labor force plus all marginally attached workers. This metric offers a more nuanced understanding of labor underutilization compared to the headline unemployment rate.
Methodology
The data is collected through the Current Population Survey by the U.S. Bureau of Labor Statistics.
Historical Context
The U6 rate is closely monitored by policymakers and economists to assess the true strength of the labor market and inform economic policy decisions.
Key Facts
- The U6 rate in Washington is currently X.X%.
- The U6 rate is typically higher than the headline unemployment rate.
- The U6 rate provides a more comprehensive measure of labor market slack.
FAQs
Q: What does this economic trend measure?
A: The U6 unemployment rate in Washington measures a broader definition of unemployment, including those marginally attached to the labor force and working part-time for economic reasons.
Q: Why is this trend relevant for users or analysts?
A: The U6 rate offers a more nuanced understanding of labor market conditions and labor underutilization compared to the standard unemployment rate, providing valuable insights for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The U6 rate is closely monitored by policymakers and economists to assess the true strength of the labor market and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The U6 unemployment rate data is typically released on a monthly basis, with a short delay from the reference period.
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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 Washington (U6UNEM6WA), retrieved from FRED.