Ersys Logo Ersys Name
Arthur 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 2222193  1.4  bar
Q2 2292263  1.3  bar
Q3 2572489  3.5  bar
Q4 2292254  1.7  bar
 
1991 Q1 2162079  4.2  bar
Q2 2192154  1.8  bar
Q3 2342322  0.9  bar
Q4 2192127  3.2  bar
 
1992 Q1 2162088  3.7  bar
Q2 22921613  5.7  bar
Q3 2332312  0.9  bar
Q4 2222202  0.9  bar
 
1993 Q1 2112065  2.4  bar
Q2 2182171  0.5  bar
Q3 2332312  0.9  bar
Q4 2142122  0.9  bar
 
1994 Q1 22421212  5.4  bar
Q2 2252205  2.2  bar
Q3 2312292  0.9  bar
Q4 2252232  0.9  bar
 
1995 Q1 21119912  5.7  bar
Q2 21320112  5.6  bar
Q3 22221210  4.5  bar
Q4 2011992  1.0  bar
 
1996 Q1 2051978  3.9  bar
Q2 2072052  1.0  bar
Q3 2252196  2.7  bar
Q4 2092045  2.4  bar
 
1997 Q1 2102019  4.3  bar
Q2 2142077  3.3  bar
Q3 2242213  1.3  bar
Q4 2112038  3.8  bar
 
1998 Q1 1971934  2.0  bar
Q2 2052014  2.0  bar
Q3 2162124  1.9  bar
Q4 2021993  1.5  bar
 
1999 Q1 1921875  2.6  bar
Q2 1971925  2.5  bar
Q3 2132094  1.9  bar
Q4 1951923  1.5  bar
 
2000 Q1 2632558  3.0  bar
Q2 2652614  1.5  bar
Q3 28827810  3.5  bar
Q4 2642604  1.5  bar
 
2001 Q1 26225111  4.2  bar
Q2 2842768  2.8  bar
Q3 2792718  2.9  bar
Q4 2762706  2.2  bar
 
2002 Q1 25423420  7.9  bar
Q2 23722611  4.6  bar
Q3 25824711  4.3  bar
Q4 2452378  3.3  bar
 
2003 Q1 23722314  5.9  bar
Q2 24323013  5.3  bar
Q3 25824612  4.7  bar
Q4 25324112  4.7  bar
 
2004 Q1 23722611  4.6  bar
Q2 2422366  2.5  bar
Q3 26225111  4.2  bar
Q4 2312238  3.5  bar
 
2005 Q1 24022812  5.0  bar
Q2 25424311  4.3  bar
Q3 28327310  3.5  bar
Q4 2622539  3.4  bar
 
2006 Q1 26224715  5.7  bar
Q2 2492418  3.2  bar
Q3 2772707  2.5  bar
Q4 2582526  2.3  bar
 
2007 Q1 2132058  3.8  bar
Q2 2372298  3.4  bar
Q3 2782699  3.2  bar
Q4 2312247  3.0  bar
 
2008 Q1 20919910  4.8  bar
Q2 2262188  3.5  bar
Q3 2852778  2.8  bar
Q4 2462388  3.3  bar
 
2009 Q1 21620016  7.4  bar
Q2 24423014  5.7  bar
Q3 25524510  3.9  bar
Q4 24423311  4.5  bar
 
2010 Q1 22519728  12.4  bar
Q2 22620719  8.4  bar
Q3 23521718  7.7  bar
Q4 22120912  5.4  bar
 
2011 Q1 23722017  7.2  bar
Q2 22821216  7.0  bar
Q3 24022416  6.7  bar
Q4 22321211  4.9  bar
 
2012 Q1 22220517  7.7  bar
Q2 23021515  6.5  bar
Q3 24423113  5.3  bar
Q4 23221913  5.6  bar
 
2013 Q1 22019723  10.5  bar
Q2 23020723  10.0  bar
Q3 23521817  7.2  bar
Q4 21119813  6.2  bar
 
2014 Q1 23722215  6.3  bar
Q2 22421113  5.8  bar
Q3 22721512  5.3  bar
Q4 2202119  4.1  bar
 
2015 Q1 22821711  4.8  bar
Q2 22221210  4.5  bar
Q3 23422410  4.3  bar
Q4 21920811  5.0  bar
 
2016 Q1 21920910  4.6  bar
Q2 22921712  5.2  bar
Q3 23822018  7.6  bar
Q4 22020812  5.5  bar
 
2017 Q1 21219814  6.6  bar
Q2 22921613  5.7  bar
Q3 23422311  4.7  bar
Q4 21420212  5.6  bar
 
2018 Q1 22921613  5.7  bar
Q2 22621511  4.9  bar
Q3 22721611  4.8  bar
Q4 21020010  4.8  bar
 
2019 Q1 23322013  5.6  bar
Q2 22321211  4.9  bar
Q3 22521312  5.3  bar
Q4 23222111  4.7  bar
 
2020 Q1 23922712  5.0  bar
Q2 24623412  4.9  bar
Q3 2132067  3.3  bar
Q4 2162133  1.4  bar
 
2021 Q1 2372316  2.5  bar
Q2 2422357  2.9  bar
Q3 2212156  2.7  bar
Q4 2292263  1.3  bar
 
2022 Q1 2362306  2.5  bar
Q2 2372325  2.1  bar
Q3 2272225  2.2  bar
Q4 2252196  2.7  bar
 
2023 Q1 2362297  3.0  bar
Q2 2011965  2.5  bar
Q3 2062024  1.9  bar
Q4 2062006  2.9  bar
 
2024 Q1 2222175  2.3  bar
Q2 2112065  2.4  bar
Q3 2132085  2.3  bar
Q4 2122066  2.8  bar
 


Sources: STI: Colossus