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What is the unemployment rate and why is it so important that it is measured on a monthly basis? Understanding the jobless rate and how it impacts the economy is a great tool to use to analyze the labor market as a whole. The unemployment rate is a measurement of the individuals who are unemployed within the entire labor force. In order to qualify as unemployed, an individual must be without work, but actively seeking employment. Those who are retired, taking care of family or temporarily working are not considered unemployed. Measuring this percentage on a monthly basis helps each state understand their economy and make decisions in their economy’s best interest, such as funding and extensions for the unemployment insurance program. A high unemployment rate might warrant a closer look at individual business sectors, while a lower jobless rate could be an indicator of a strong, growing economy.
Nebraska Unemployment Resources
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What is the unemployment rate in Nebraska and how does it change? As of May 2017, the unemployment rate in Nebraska reached 2.9 percent, which is significantly lower than the 4.3 percent national average. The jobless rate considers the overall labor force of over 1,005,000 individuals, of which only 29,000 of those individuals remain unemployed in Nebraska. Thus far, the state has normal fluctuations in employment for 2017, with the total non-farm jobs being at the forefront of the labor force. The unemployment rate in Nebraska is a huge win for the economy, as well as a symbol of hope within the nation’s labor force.
However, despite the fact that the unemployment rate in Nebraska has been on a downswing, there are still plenty of individuals who struggle to find employment within the state. The good news is that Nebraska offers unemployment insurance benefits for those who need temporary wage assistance. Each state varies in terms of eligibility, so understanding the requirements of unemployment benefits in Nebraska prior to applying is of the utmost importance.