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A rough comparison of September 2014 (when the unemployment rate was 5.9%) versus October 2009 (when the unemployment rate peaked at 10.0%) helps illustrate the analytical challenge. The civilian population increased by roughly 10 million during that time, with the labor force increasing by about 2 million and those not in the labor force ...
Prior to 1994, the alternate measures of unemployment had different names because the BLS drastically revised the questions in the CPS and renamed the measures: U3 and U4 were eliminated; the official rate U5 remained the same measure but was renamed U3; U6 and U7 were revised and renamed U5 and U6. [14] CPS-based measures of unemployment ...
The U.S. Bureau of Labor Statistics classifies unemployment based on various aspects into six groups (U1-U6), with U3 referring to the most widely recognized, ILO definition. The ratio of long-term unemployed (27 weeks or longer) to unemployed rose from 17.3% in December 2007 (pre-recession) to a peak of 48.1% during April 2010.
Change in unemployment rate from February 2020 to February 2021: +2.7. Percent change in unemployment rate from February 2020 to February 2021: +77.14%. See: Industries Set To Bounce Back in 2021.
Unemployment in the US by State (June 2023) The list of U.S. states and territories by unemployment rate compares the seasonally adjusted unemployment rates by state and territory, sortable by name, rate, and change. Data are provided by the Bureau of Labor Statistics in its Geographic Profile of Employment and Unemployment publication.
Note: "Marginally attached workers" are added to the total labour force for unemployment rate calculation for U4, U5, and U6. The BLS revised the CPS in 1994 and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5. [61]
# parse out just the ones that we care about: U1, U2, U3, U4, U5 and U6 # The AllData file has 4.2 million rows, of which can take some time to # load, so it is commented out for repeated plots.
The rule only relies on a single data series, national unemployment, which is published monthly by the BLS. This differentiates the index from other recession indicators based on statistical models, which may rely on dozens of inputs. [12] Further, unemployment can be more easily understood than complex financial series. [13] [14]