The unemployment rate represents the number unemployed as a percent of the civilian labor force. The unemployment rate is a closely watched economic indicator as it is a key indicator of labor market performance. As the U.S. Bureau of Labor Statistics notes, when workers are unemployed, not only do their families lose wages, the city as a whole loses its contribution to the economy in terms of the goods or services that could have been produced. Unemployed workers also lose their purchasing power, which can lead to unemployment for other workers, creating a cascading effect that ripples through the economy. The target is for Fort Worth to have a lower unemployment rate than the state of Texas and the nation.
Data Source: This data comes from the Bureau of Labor Statistics.