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Treasure 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 46845315  3.2  bar
Q2 46345310  2.2  bar
Q3 51750413  2.5  bar
Q4 47645422  4.6  bar
 
1991 Q1 42440915  3.5  bar
Q2 47546114  2.9  bar
Q3 56755116  2.8  bar
Q4 51149417  3.3  bar
 
1992 Q1 52848147  8.9  bar
Q2 57052644  7.7  bar
Q3 55253022  4.0  bar
Q4 52750027  5.1  bar
 
1993 Q1 45643125  5.5  bar
Q2 47246012  2.5  bar
Q3 46244220  4.3  bar
Q4 48146714  2.9  bar
 
1994 Q1 48746225  5.1  bar
Q2 51450311  2.1  bar
Q3 47245814  3.0  bar
Q4 49948811  2.2  bar
 
1995 Q1 40238418  4.5  bar
Q2 45444311  2.4  bar
Q3 46244319  4.1  bar
Q4 44142912  2.7  bar
 
1996 Q1 42440024  5.7  bar
Q2 46244913  2.8  bar
Q3 46444420  4.3  bar
Q4 4404346  1.4  bar
 
1997 Q1 39336924  6.1  bar
Q2 40739710  2.5  bar
Q3 45242923  5.1  bar
Q4 45343914  3.1  bar
 
1998 Q1 44040931  7.0  bar
Q2 45943920  4.4  bar
Q3 46443232  6.9  bar
Q4 47345617  3.6  bar
 
1999 Q1 49646927  5.4  bar
Q2 50648818  3.6  bar
Q3 49447420  4.0  bar
Q4 53251715  2.8  bar
 
2000 Q1 48645828  5.8  bar
Q2 48646620  4.1  bar
Q3 41439519  4.6  bar
Q4 47245517  3.6  bar
 
2001 Q1 45544015  3.3  bar
Q2 44142516  3.6  bar
Q3 41740116  3.8  bar
Q4 46344617  3.7  bar
 
2002 Q1 40638620  4.9  bar
Q2 37235517  4.6  bar
Q3 38837315  3.9  bar
Q4 42040812  2.9  bar
 
2003 Q1 41238725  6.1  bar
Q2 44342716  3.6  bar
Q3 45844612  2.6  bar
Q4 4194109  2.1  bar
 
2004 Q1 42340122  5.2  bar
Q2 42340617  4.0  bar
Q3 38236418  4.7  bar
Q4 42340518  4.3  bar
 
2005 Q1 40638521  5.2  bar
Q2 39938514  3.5  bar
Q3 39237715  3.8  bar
Q4 41740413  3.1  bar
 
2006 Q1 41740017  4.1  bar
Q2 41039713  3.2  bar
Q3 40439113  3.2  bar
Q4 3873798  2.1  bar
 
2007 Q1 39337815  3.8  bar
Q2 39238111  2.8  bar
Q3 40639610  2.5  bar
Q4 41540510  2.4  bar
 
2008 Q1 40538718  4.4  bar
Q2 43141120  4.6  bar
Q3 38637511  2.8  bar
Q4 38637511  2.8  bar
 
2009 Q1 44241527  6.1  bar
Q2 44642224  5.4  bar
Q3 37435321  5.6  bar
Q4 35033218  5.1  bar
 
2010 Q1 40337627  6.7  bar
Q2 41639224  5.8  bar
Q3 38236616  4.2  bar
Q4 38636620  5.2  bar
 
2011 Q1 40037525  6.3  bar
Q2 37735720  5.3  bar
Q3 37135219  5.1  bar
Q4 37936316  4.2  bar
 
2012 Q1 38136219  5.0  bar
Q2 39137318  4.6  bar
Q3 38236022  5.8  bar
Q4 38336617  4.4  bar
 
2013 Q1 33932019  5.6  bar
Q2 35534015  4.2  bar
Q3 36335013  3.6  bar
Q4 36535015  4.1  bar
 
2014 Q1 33832117  5.0  bar
Q2 34833513  3.7  bar
Q3 36735413  3.5  bar
Q4 36134813  3.6  bar
 
2015 Q1 34032317  5.0  bar
Q2 35834018  5.0  bar
Q3 36534718  4.9  bar
Q4 36234418  5.0  bar
 
2016 Q1 36034020  5.6  bar
Q2 36234319  5.2  bar
Q3 35334013  3.7  bar
Q4 33832513  3.8  bar
 
2017 Q1 33531916  4.8  bar
Q2 35934415  4.2  bar
Q3 34032713  3.8  bar
Q4 33032010  3.0  bar
 
2018 Q1 32731512  3.7  bar
Q2 3243168  2.5  bar
Q3 3303228  2.4  bar
Q4 3353269  2.7  bar
 
2019 Q1 34132813  3.8  bar
Q2 34133110  2.9  bar
Q3 3313238  2.4  bar
Q4 3563497  2.0  bar
 
2020 Q1 4194109  2.1  bar
Q2 45443717  3.7  bar
Q3 36534916  4.4  bar
Q4 46345013  2.8  bar
 
2021 Q1 44843315  3.3  bar
Q2 44443113  2.9  bar
Q3 37035713  3.5  bar
Q4 4414338  1.8  bar
 
2022 Q1 4304219  2.1  bar
Q2 4354269  2.1  bar
Q3 3473407  2.0  bar
Q4 4284217  1.6  bar
 
2023 Q1 42241210  2.4  bar
Q2 45944910  2.2  bar
Q3 3503437  2.0  bar
Q4 41540510  2.4  bar
 
2024 Q1 42040713  3.1  bar
Q2 42741710  2.3  bar
Q3 38437410  2.6  bar
Q4 4104037  1.7  bar
 


Sources: STI: PopStats and STI: Colossus