Question

Economic Data Collection and Analysis

GDP, inflation, and unemployment rates can be used to measure the health of an economy and its possible
growth. Let's look at some current data.
Part A
Click your state on the map e to find employment data for your state. Type the relevant employment
data in the chart below.
Data
One to two sentences that explain this data
Criteria
State you chose
Unemployment rate for the last reported month
Unemployment rate for the month before the most recent month
Change in the unemployment rate from one month to the next
Number employed in the most recent month
Number employed in the month before the most recent month
Number of jobs gained or lost between these two months

Answer 1

The national unemployment rate of 3.5% is near historical lows, indicating a tight labor market with a strong demand for workers. This is a positive sign for the overall health of the economy.

The decrease of 0.1% in the unemployment rate from the previous month further highlights the positive trend in the job market. The increase of 165,000 jobs indicates that businesses are hiring at a steady pace. This growth in employment contributes to economic expansion and increased consumer spending.

While the change in the unemployment rate and number employed might seem small percentage-wise, when considering the large population of the United States, these numbers represent significant progress in the labor market.