Number of Civilians Unemployed for 15 Weeks or Longer for North Carolina
UNEMP15NC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73,200.00
Year-over-Year Change
-43.12%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Number of Civilians Unemployed for 15 Weeks or Longer for North Carolina' measures the count of individuals in North Carolina who have been jobless for at least 15 consecutive weeks. This long-term unemployment figure is a key economic indicator tracked by policymakers and analysts.
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
This series represents the number of North Carolina residents who have been unemployed for an extended period, beyond the typical duration of joblessness. Long-term unemployment can indicate labor market challenges and the effectiveness of workforce development initiatives.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly household survey.
Historical Context
Trends in long-term unemployment provide insights into the health of North Carolina's labor market and inform policy decisions.
Key Facts
- North Carolina's long-term unemployment peaked at over 300,000 in 2010.
- Long-term unemployment remains elevated compared to pre-recession levels.
- The share of total unemployed in North Carolina who are long-term jobless is around 30%.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of individuals in North Carolina who have been unemployed for 15 weeks or longer, a key indicator of labor market challenges.
Q: Why is this trend relevant for users or analysts?
A: Long-term unemployment data provides insight into the health of North Carolina's labor market and informs policy decisions aimed at supporting workforce development and economic recovery.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly household survey.
Q: How is this trend used in economic policy?
A: Trends in long-term unemployment in North Carolina are closely monitored by policymakers, economists, and labor market analysts to gauge the effectiveness of workforce initiatives and guide economic policy.
Q: Are there update delays or limitations?
A: The data is reported monthly with a typical 1-2 month lag, and may be subject to revisions based on updated survey responses.
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Citation
U.S. Federal Reserve, Number of Civilians Unemployed for 15 Weeks or Longer for North Carolina (UNEMP15NC), retrieved from FRED.