The unemployment rate, as defined for this indicator, is the percent of the total workforce who were not employed during the previous week among those who were seeking work.
This indicator is part of Basic needs provided for.
The unemployment rate, as defined for this indicator, is the percent of the total workforce who were not employed during the previous week among those who were seeking work. This rate does not include those who were disabled and unable to work, those who were temporarily laid off and expected to be called back, or those who had given up looking for work and had quit making any efforts to find a job. Unemployment for October of each year is depicted for Albuquerque over time. October 2008 data is compared for peer cities.
Rollover and click the interactive graphs to make comparisons
Why is this indicator relevant?
Unemployment is a measure of joblessness, but also an indicator of the overall health of the economy. For those who are seeking a job, it is also a measure of the amount of competition they will have from others who are seeking jobs and not currently working. Studies demonstrate that those individuals and families who are able to rise above poverty do so because of employment. The breadwinner either got a job, found a better paying job, took an additional job, or additional family members began working. Because employment is the most reliable way to get out of poverty and provide for the basic needs of the individual or family, unemployment and poverty are linked at the community level.
U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics Information and Analysis
What can we tell from the data?
- Albuquerque's unemployment rate rose from 2007 to 2010, but since then has been on the decline.
- Albuquerque's jobless rate is average compared to other Southwest peer cities.
For Help in understanding this page, see Understanding Indicators.