Infra-Annual Labor Statistics: Labor Force Total: From 15 to 24 Years for United States
Annual, Seasonally Adjusted
LFAC24TTUSA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,777,750.00
Year-over-Year Change
2.32%
Date Range
1/1/1955 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the total labor force participation rate for adults aged 24 and older in the United States. This key economic indicator provides insight into the size and composition of the active U.S. workforce.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The labor force participation rate reflects the percentage of the civilian non-institutional population aged 24 and over who are employed or actively seeking work. This metric is closely monitored by economists and policymakers to gauge the strength and utilization of the labor market.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Population Survey.
Historical Context
The labor force participation rate is a crucial input for economic analysis and policy decisions related to employment, productivity, and economic growth.
Key Facts
- The labor force participation rate reached a record high of 67.3% in 2000.
- Participation rates have declined since the early 2000s, partly due to aging demographics.
- The COVID-19 pandemic led to a sharp drop in the participation rate in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual, Seasonally Adjusted trend measures the percentage of the civilian non-institutional population aged 24 and over who are employed or actively seeking work in the United States.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key indicator of the strength and utilization of the U.S. labor market, providing important insights for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Population Survey.
Q: How is this trend used in economic policy?
A: The labor force participation rate is a crucial input for economic analysis and policy decisions related to employment, productivity, and economic growth.
Q: Are there update delays or limitations?
A: The data is updated monthly by the U.S. Bureau of Labor Statistics, with a typical release delay of around one month.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LFAC24TTUSA647S), retrieved from FRED.