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Logan 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 3883853  0.8  bar
Q2 4084035  1.2  bar
Q3 4254196  1.4  bar
Q4 4304219  2.1  bar
 
1991 Q1 4194118  1.9  bar
Q2 43242111  2.5  bar
Q3 44843315  3.3  bar
Q4 4284244  0.9  bar
 
1992 Q1 42341112  2.8  bar
Q2 44542817  3.8  bar
Q3 4434385  1.1  bar
Q4 4314274  0.9  bar
 
1993 Q1 4264224  0.9  bar
Q2 4384344  0.9  bar
Q3 4564515  1.1  bar
Q4 45344211  2.4  bar
 
1994 Q1 44243012  2.7  bar
Q2 45943722  4.8  bar
Q3 4554478  1.8  bar
Q4 46344914  3.0  bar
 
1995 Q1 44943217  3.8  bar
Q2 46144516  3.5  bar
Q3 46445410  2.2  bar
Q4 45344310  2.2  bar
 
1996 Q1 44742720  4.5  bar
Q2 44943712  2.7  bar
Q3 4594527  1.5  bar
Q4 45043614  3.1  bar
 
1997 Q1 45443915  3.3  bar
Q2 4604519  2.0  bar
Q3 48246616  3.3  bar
Q4 4664588  1.7  bar
 
1998 Q1 45544510  2.2  bar
Q2 47846315  3.1  bar
Q3 48647610  2.1  bar
Q4 4684617  1.5  bar
 
1999 Q1 4414329  2.0  bar
Q2 4454387  1.6  bar
Q3 44943910  2.2  bar
Q4 4414365  1.1  bar
 
2000 Q1 40939811  2.7  bar
Q2 4144068  1.9  bar
Q3 42241210  2.4  bar
Q4 4174089  2.2  bar
 
2001 Q1 44142813  2.9  bar
Q2 4444359  2.0  bar
Q3 45544312  2.6  bar
Q4 4334276  1.4  bar
 
2002 Q1 43342211  2.5  bar
Q2 44042812  2.7  bar
Q3 44743413  2.9  bar
Q4 44643610  2.2  bar
 
2003 Q1 42140516  3.8  bar
Q2 43141813  3.0  bar
Q3 44042713  3.0  bar
Q4 43642610  2.3  bar
 
2004 Q1 43141714  3.2  bar
Q2 43942613  3.0  bar
Q3 45143813  2.9  bar
Q4 44143011  2.5  bar
 
2005 Q1 44242814  3.2  bar
Q2 45043812  2.7  bar
Q3 4544459  2.0  bar
Q4 4474398  1.8  bar
 
2006 Q1 44943415  3.3  bar
Q2 45444311  2.4  bar
Q3 46545510  2.2  bar
Q4 4644559  1.9  bar
 
2007 Q1 46245012  2.6  bar
Q2 46845612  2.6  bar
Q3 48146912  2.5  bar
Q4 48546916  3.3  bar
 
2008 Q1 46245210  2.2  bar
Q2 4664588  1.7  bar
Q3 47346211  2.3  bar
Q4 4684608  1.7  bar
 
2009 Q1 45744314  3.1  bar
Q2 45944811  2.4  bar
Q3 47145120  4.2  bar
Q4 4514429  2.0  bar
 
2010 Q1 48747215  3.1  bar
Q2 50348419  3.8  bar
Q3 48545431  6.4  bar
Q4 50548025  5.0  bar
 
2011 Q1 51349221  4.1  bar
Q2 50949217  3.3  bar
Q3 49647917  3.4  bar
Q4 51349518  3.5  bar
 
2012 Q1 50348815  3.0  bar
Q2 52751215  2.8  bar
Q3 50648818  3.6  bar
Q4 51149615  2.9  bar
 
2013 Q1 50148417  3.4  bar
Q2 51049614  2.7  bar
Q3 52250517  3.3  bar
Q4 49548015  3.0  bar
 
2014 Q1 50348518  3.6  bar
Q2 49447915  3.0  bar
Q3 49347914  2.8  bar
Q4 49748413  2.6  bar
 
2015 Q1 50448915  3.0  bar
Q2 49548015  3.0  bar
Q3 50949613  2.6  bar
Q4 47145813  2.8  bar
 
2016 Q1 47946514  2.9  bar
Q2 48947217  3.5  bar
Q3 50649313  2.6  bar
Q4 47546213  2.7  bar
 
2017 Q1 46444717  3.7  bar
Q2 49147615  3.1  bar
Q3 48146912  2.5  bar
Q4 4564479  2.0  bar
 
2018 Q1 46845711  2.4  bar
Q2 4764679  1.9  bar
Q3 47345617  3.6  bar
Q4 45744413  2.8  bar
 
2019 Q1 47445915  3.2  bar
Q2 48347013  2.7  bar
Q3 46144714  3.0  bar
Q4 46645115  3.2  bar
 
2020 Q1 39638412  3.0  bar
Q2 40638323  5.7  bar
Q3 3633549  2.5  bar
Q4 3783735  1.3  bar
 
2021 Q1 3823757  1.8  bar
Q2 3783708  2.1  bar
Q3 3683626  1.6  bar
Q4 3703619  2.4  bar
 
2022 Q1 39838810  2.5  bar
Q2 3933849  2.3  bar
Q3 37936910  2.6  bar
Q4 37235913  3.5  bar
 
2023 Q1 36435212  3.3  bar
Q2 35734611  3.1  bar
Q3 3463379  2.6  bar
Q4 35133912  3.4  bar
 
2024 Q1 36134813  3.6  bar
Q2 35433816  4.5  bar
Q3 34933613  3.7  bar
Q4 33932514  4.1  bar
 


Sources: STI: PopStats and STI: Colossus