Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Australia
RGDPTHAUA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.78
Year-over-Year Change
18.57%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity-adjusted gross domestic product (GDP) per hour worked by employees in Australia, providing insights into labor productivity and economic competitiveness.
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 Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Australia is an important indicator for evaluating the efficiency and competitiveness of the Australian economy. It allows for cross-country comparisons of labor productivity and can inform economic policy decisions.
Methodology
The data is calculated by the Conference Board based on national accounts and labor force statistics.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic performance and guide policy decisions.
Key Facts
- Australia's GDP per hour worked was $57.31 in 2021.
- Australia's labor productivity has grown by 1.8% annually over the past decade.
- The U.S. GDP per hour worked was 25% higher than Australia's in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted gross domestic product (GDP) per hour worked by employees in Australia, providing insights into labor productivity and economic competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic performance and guide policy decisions, as it allows for cross-country comparisons of labor productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board based on national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: This metric informs economic policy decisions by providing insights into the efficiency and competitiveness of the Australian economy, which can guide decisions on productivity-enhancing measures.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in the availability of the most recent figures.
Related Trends
Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Greece
RGDPTHGRA630NUPN
Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Netherlands
RGDPTHNLA630NUPN
Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Romania
RGDPTHROA630NUPN
Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Taiwan
RGDPTHTWA630NUPN
Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Luxembourg
RGDPTHLUA630NUPN
Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Turkey
RGDPTHTRA630NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Australia (RGDPTHAUA630NUPN), retrieved from FRED.