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Yuma County – Unemployment History 2024

Unemployment Word Cloud

Unemployment statistics are among the most critical indicators used to assess the health and stability of a local economy. These statistics provide valuable insights into labor market conditions, economic growth, and social well-being, helping policymakers, businesses, and researchers make informed decisions. Understanding unemployment trends allows stakeholders to identify economic strengths, weaknesses, and necessary interventions to foster sustainable development.

  1. Measuring Economic Health Unemployment rates serve as a barometer for the overall economic performance of a local economy. A low unemployment rate typically indicates a robust economy where businesses are expanding, consumer spending is strong, and job opportunities are plentiful. Conversely, high unemployment suggests economic distress, such as business closures, reduced consumer demand, or industrial decline. By tracking these trends, economists and local governments can gauge whether the economy is growing, stagnating, or contracting.

  2. Informing Policy Decisions Governments and policymakers rely on unemployment data to design and implement effective economic strategies. For instance, if a local economy experiences rising unemployment, policymakers might introduce job training programs, tax incentives for businesses, or infrastructure projects to stimulate employment. Conversely, if unemployment is too low, it may signal labor shortages, prompting policies that encourage workforce participation, such as childcare support or immigration adjustments. Without accurate unemployment statistics, policymakers would struggle to address labor market challenges effectively.

  3. Assessing Labor Market Dynamics Unemployment statistics reveal more than just joblessness-they highlight structural issues within the labor market. For example:
    • Frictional Unemployment (short-term joblessness due to workers transitioning between jobs) indicates a dynamic economy with fluid job mobility.
    • Structural Unemployment (mismatches between workers' skills and job openings) suggests a need for education and retraining programs.
    • Cyclical Unemployment (job losses due to economic downturns) calls for stimulus measures to revive demand.


    By analyzing these categories, local leaders can tailor workforce development initiatives to address specific labor market inefficiencies.

  4. Impact on Consumer Spending and Business Confidence Employment levels directly influence consumer spending, which drives local economic activity. High unemployment reduces disposable income, leading to lower retail sales, decreased tax revenues, and potential business cutbacks. Conversely, low unemployment boosts consumer confidence and spending, encouraging business expansion and investment. Businesses also monitor unemployment trends to assess labor availability and plan hiring strategies accordingly.

  5. Identifying Regional Disparities Unemployment statistics help identify disparities between different regions, industries, or demographic groups within a local economy. For example, certain areas may suffer from higher unemployment due to the decline of a dominant industry (e.g., manufacturing), while others thrive in growing sectors (e.g., technology). Similarly, youth or minority unemployment rates may be disproportionately high, signaling the need for targeted social and economic programs.

  6. Influencing Investment and Development Investors and developers use unemployment data to assess the viability of local markets. A high-unemployment region may deter investment due to reduced consumer demand, whereas areas with strong employment growth attract businesses and infrastructure projects. Municipalities can leverage favorable unemployment statistics to promote economic development and attract new industries.


Conclusion

Unemployment statistics are indispensable for understanding the local economy's dynamics, strengths, and challenges. They guide policy formulation, highlight labor market inefficiencies, influence business and consumer behavior, and help address socioeconomic disparities. By continuously monitoring and analyzing unemployment trends, local economies can implement proactive measures to ensure stability, growth, and equitable opportunities for all residents.

 
Quarter
Labor Pool
Employed
Unemployed
    Unemployment Rate %
     
1990 Q1 44,78438,8125,972  13.3  bar
Q2 47,21137,8399,372  19.9  bar
Q3 50,06835,89914,169  28.3  bar
Q4 46,05336,8699,184  19.9  bar
 
1991 Q1 45,50739,1636,344  13.9  bar
Q2 46,01438,9087,106  15.4  bar
Q3 52,49039,01813,472  25.7  bar
Q4 52,01040,38211,628  22.4  bar
 
1992 Q1 50,35441,4568,898  17.7  bar
Q2 53,84139,36714,474  26.9  bar
Q3 60,42539,48620,939  34.7  bar
Q4 54,98541,32913,656  24.8  bar
 
1993 Q1 55,48143,06812,413  22.4  bar
Q2 56,54440,16416,380  29.0  bar
Q3 60,25439,51920,735  34.4  bar
Q4 56,96941,09515,874  27.9  bar
 
1994 Q1 58,29045,75112,539  21.5  bar
Q2 65,70746,41819,289  29.4  bar
Q3 70,97042,87828,092  39.6  bar
Q4 68,88645,62323,263  33.8  bar
 
1995 Q1 64,15748,47415,683  24.4  bar
Q2 70,03048,19621,834  31.2  bar
Q3 77,18848,91828,270  36.6  bar
Q4 69,04949,04620,003  29.0  bar
 
1996 Q1 63,97949,37914,600  22.8  bar
Q2 65,48047,00618,474  28.2  bar
Q3 75,37145,60629,765  39.5  bar
Q4 72,35349,68422,669  31.3  bar
 
1997 Q1 65,40550,44814,957  22.9  bar
Q2 67,34548,81118,534  27.5  bar
Q3 70,42746,30524,122  34.3  bar
Q4 66,29048,78517,505  26.4  bar
 
1998 Q1 62,78250,00412,778  20.4  bar
Q2 65,91147,49118,420  27.9  bar
Q3 72,11545,85326,262  36.4  bar
Q4 67,83249,02318,809  27.7  bar
 
1999 Q1 64,67250,29814,374  22.2  bar
Q2 72,48450,35622,128  30.5  bar
Q3 74,86044,85530,005  40.1  bar
Q4 69,31949,91719,402  28.0  bar
 
2000 Q1 64,59957,6126,987  10.8  bar
Q2 62,43852,00610,432  16.7  bar
Q3 64,65149,45715,194  23.5  bar
Q4 65,00153,91111,090  17.1  bar
 
2001 Q1 66,71759,1017,616  11.4  bar
Q2 65,36154,21611,145  17.1  bar
Q3 66,54551,80614,739  22.1  bar
Q4 63,87352,94410,929  17.1  bar
 
2002 Q1 64,65457,4247,230  11.2  bar
Q2 65,00555,4889,517  14.6  bar
Q3 71,39053,87617,514  24.5  bar
Q4 70,71358,75411,959  16.9  bar
 
2003 Q1 69,54461,2128,332  12.0  bar
Q2 68,18357,19410,989  16.1  bar
Q3 73,89056,73217,158  23.2  bar
Q4 73,47861,76611,712  15.9  bar
 
2004 Q1 73,11464,7098,405  11.5  bar
Q2 70,40458,95511,449  16.3  bar
Q3 75,14658,48116,665  22.2  bar
Q4 71,15560,12511,030  15.5  bar
 
2005 Q1 71,53563,9677,568  10.6  bar
Q2 73,18262,25410,928  14.9  bar
Q3 77,39560,02017,375  22.4  bar
Q4 73,06261,60411,458  15.7  bar
 
2006 Q1 73,75265,9717,781  10.6  bar
Q2 73,64463,7579,887  13.4  bar
Q3 79,97362,56817,405  21.8  bar
Q4 74,55763,78510,772  14.4  bar
 
2007 Q1 75,13767,6807,457  9.9  bar
Q2 73,55065,1068,444  11.5  bar
Q3 78,34363,38614,957  19.1  bar
Q4 76,50566,13710,368  13.6  bar
 
2008 Q1 78,68070,5878,093  10.3  bar
Q2 76,63466,6659,969  13.0  bar
Q3 84,46165,80218,659  22.1  bar
Q4 82,06265,30216,760  20.4  bar
 
2009 Q1 81,26467,82613,438  16.5  bar
Q2 85,61166,65118,960  22.1  bar
Q3 87,97163,68724,284  27.6  bar
Q4 86,15865,19020,968  24.3  bar
 
2010 Q1 87,02769,02917,998  20.7  bar
Q2 91,26468,25223,012  25.2  bar
Q3 93,57965,97427,605  29.5  bar
Q4 94,72869,75124,977  26.4  bar
 
2011 Q1 87,93868,38619,552  22.2  bar
Q2 88,95366,86522,088  24.8  bar
Q3 94,87868,54526,333  27.8  bar
Q4 94,17270,63123,541  25.0  bar
 
2012 Q1 88,90269,66819,234  21.6  bar
Q2 89,06668,32620,740  23.3  bar
Q3 100,27172,45827,813  27.7  bar
Q4 96,61672,15524,461  25.3  bar
 
2013 Q1 91,75270,10921,643  23.6  bar
Q2 89,33666,11923,217  26.0  bar
Q3 102,41172,78729,624  28.9  bar
Q4 96,09269,85226,240  27.3  bar
 
2014 Q1 89,89769,49320,404  22.7  bar
Q2 87,91467,60920,305  23.1  bar
Q3 98,74772,34226,405  26.7  bar
Q4 92,59571,89220,703  22.4  bar
 
2015 Q1 90,99473,49517,499  19.2  bar
Q2 94,11873,15720,961  22.3  bar
Q3 100,46874,77425,694  25.6  bar
Q4 92,63171,87220,759  22.4  bar
 
2016 Q1 91,39576,27115,124  16.5  bar
Q2 93,59575,91817,677  18.9  bar
Q3 98,65375,96622,687  23.0  bar
Q4 95,66776,61619,051  19.9  bar
 
2017 Q1 94,69280,44614,246  15.0  bar
Q2 94,64779,09715,550  16.4  bar
Q3 97,63576,22721,408  21.9  bar
Q4 98,02681,04816,978  17.3  bar
 
2018 Q1 93,85680,38413,472  14.4  bar
Q2 92,75977,83114,928  16.1  bar
Q3 98,57677,80420,772  21.1  bar
Q4 103,48284,66218,820  18.2  bar
 
2019 Q1 101,74087,10214,638  14.4  bar
Q2 96,66481,98414,680  15.2  bar
Q3 99,23778,27220,965  21.1  bar
Q4 102,94085,38617,554  17.1  bar
 
2020 Q1 98,67485,06713,607  13.8  bar
Q2 94,43572,20222,233  23.5  bar
Q3 93,89772,29821,599  23.0  bar
Q4 95,06982,74212,327  13.0  bar
 
2021 Q1 94,23084,5779,653  10.2  bar
Q2 91,20480,53610,668  11.7  bar
Q3 91,61475,82815,786  17.2  bar
Q4 95,24583,48911,756  12.3  bar
 
2022 Q1 99,50089,17210,328  10.4  bar
Q2 92,75382,73110,022  10.8  bar
Q3 93,69279,54714,145  15.1  bar
Q4 99,21786,07113,146  13.2  bar
 
2023 Q1 100,71990,41310,306  10.2  bar
Q2 93,81585,2368,579  9.1  bar
Q3 94,38879,85014,538  15.4  bar
Q4 100,25587,11713,138  13.1  bar
 
2024 Q1 98,91189,4739,438  9.5  bar
Q2 95,95086,6409,310  9.7  bar
Q3 97,51882,16015,358  15.7  bar
Q4 99,62585,84513,780  13.8  bar
 


Sources: STI: Colossus