Unemployment Level for Pennsylvania
UNEMPLOYPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
221,500.00
Year-over-Year Change
-49.22%
Date Range
10/1/2003 - 7/1/2024
Summary
The Unemployment Level for Pennsylvania measures the total number of unemployed persons in the state. This metric is a key indicator of the health and performance of the Pennsylvania labor market.
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 Unemployment Level for Pennsylvania tracks the number of individuals in the state who are without jobs and actively seeking employment. This data is closely monitored by policymakers, economists, and labor market analysts to assess economic conditions and inform policy decisions.
Methodology
The data is collected through surveys of Pennsylvania households by the U.S. Bureau of Labor Statistics.
Historical Context
The Unemployment Level for Pennsylvania is a valuable input for understanding regional economic trends and the effectiveness of employment policies.
Key Facts
- Pennsylvania's unemployment level peaked at over 1 million in 2020 due to the COVID-19 pandemic.
- The state's unemployment rate has steadily declined since mid-2020 as the economy has recovered.
- Unemployment levels vary significantly across different regions and industries within Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: The Unemployment Level for Pennsylvania measures the total number of individuals in the state who are jobless and actively seeking employment.
Q: Why is this trend relevant for users or analysts?
A: The Unemployment Level for Pennsylvania is a key indicator of the state's economic health and labor market conditions, providing valuable insights for policymakers, businesses, and individuals.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Pennsylvania households conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Unemployment Level for Pennsylvania is closely monitored by policymakers and economists to assess the effectiveness of employment policies and inform decisions on economic stimulus, workforce development, and other initiatives.
Q: Are there update delays or limitations?
A: The Unemployment Level for Pennsylvania data is published monthly, with a typical release lag of approximately one month.
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Citation
U.S. Federal Reserve, Unemployment Level for Pennsylvania (UNEMPLOYPA), retrieved from FRED.