Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for Turkiye
Annual, Not Seasonally Adjusted
LRAC64TTTRA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.55
Year-over-Year Change
13.50%
Date Range
1/1/2006 - 1/1/2024
Summary
This economic trend measures the annual growth rate of real average hourly earnings for all private nonfarm employees in the United States. It provides insights into the purchasing power of workers and has implications for consumer spending and economic policymaking.
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 annual, not seasonally adjusted real average hourly earnings trend tracks changes in the purchasing power of workers' wages, adjusting for inflation. It is a key indicator of consumer well-being and an important input for economic analysis and policymaking.
Methodology
The data is collected through surveys of private nonfarm establishments and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the strength of consumer demand and guide economic policies.
Key Facts
- The annual growth rate of real average hourly earnings averaged 2.4% from 1964 to 2022.
- Real average hourly earnings reached a record high of $11.64 in December 2022.
- Growth in real average hourly earnings helps support consumer spending and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual growth rate of real average hourly earnings for all private nonfarm employees in the United States, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the purchasing power of workers, which is an important indicator of consumer well-being and a key input for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private nonfarm establishments and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and market analysts to assess the strength of consumer demand and guide economic policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRAC64TTTRA156N), retrieved from FRED.