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Source: Federal Reserve Bank of Richmond
Release: Hornstein-Kudlyak-Lange Non-Employment Index
Units: Percent, Seasonally Adjusted
Frequency: Monthly
The Hornstein-Kudlyak-Lange Non-Employment Index (NEI) is a weighted average of all non-employed people expressed as the share of the civilian non-institutionalized population 16 years and older. The weights take into account persistent differences in each group's likelihood of transitioning back into employment. Because the NEI is more comprehensive and includes tailored weights of non-employed individuals, it arguably provides a more accurate reading of labor market conditions than the standard unemployment rate. For further information about this series, go to https://www.richmondfed.org/research/national_economy/non_employment_index.
Federal Reserve Bank of Richmond, Hornstein-Kudlyak-Lange Non-Employment Index [NEIM156SFRBRIC], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NEIM156SFRBRIC, May 17, 2024.
Source: U.S. Bureau of Labor Statistics
Release: Employment Situation
Units: Percent, Seasonally Adjusted
Frequency: Monthly
The unemployment rate represents the number of unemployed as a percentage of the labor force. Labor force data are restricted to people 16 years of age and older, who currently reside in 1 of the 50 states or the District of Columbia, who do not reside in institutions (e.g., penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces.
This rate is also defined as the U-3 measure of labor underutilization.
The series comes from the 'Current Population Survey (Household Survey)'
The source code is: LNS14000000
U.S. Bureau of Labor Statistics, Unemployment Rate [UNRATE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/UNRATE, May 17, 2024.
Source: Federal Reserve Bank of Richmond
Release: Hornstein-Kudlyak-Lange Non-Employment Index
Units: Percent, Seasonally Adjusted
Frequency: Monthly
The Hornstein-Kudlyak-Lange Non-Employment Index including People Working Part-Time for Economic Reasons (NEI+PTER) is a weighted average of all non-employed people and people working part-time for economic reasons expressed as the share of the civilian non-institutionalized population 16 years and older. The weights take into account persistent differences in each group's likelihood of transitioning back into employment. Because the NEI is more comprehensive and includes tailored weights of non-employed individuals, it arguably provides a more accurate reading of labor market conditions than the standard unemployment rate. For further information about this series, go to https://www.richmondfed.org/research/national_economy/non_employment_index.
Federal Reserve Bank of Richmond, Hornstein-Kudlyak-Lange Non-Employment Index including People Working Part-Time for Economic Reasons [NEIPTERM156SFRBRIC], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NEIPTERM156SFRBRIC, May 17, 2024.