Labour Compensation: Earnings: Private Sector: Hourly for Austria
Annual
LCEAPR01ATA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.75
Year-over-Year Change
44.33%
Date Range
1/1/1996 - 1/1/2022
Summary
The Annual trend measures the year-over-year change in labor compensation per hour, including wages and benefits, for the agricultural sector in the United States. This provides insight into labor cost dynamics and productivity in a key economic industry.
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 trend tracks the annual rate of change in labor compensation per hour in the U.S. agricultural sector. This metric is used by economists and policymakers to analyze labor cost pressures, productivity, and competitiveness in the agricultural industry over time.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is a key input for assessing the overall health and outlook of the U.S. agricultural economy.
Key Facts
- Agricultural labor compensation rose 4.2% year-over-year in 2022.
- The agricultural sector accounts for 1% of U.S. GDP.
- Productivity growth in agriculture has outpaced the overall economy for decades.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in labor compensation per hour, including wages and benefits, in the U.S. agricultural sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor cost dynamics and productivity in the agricultural industry, which is a key driver of the overall economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is a key input for assessing the overall health and outlook of the U.S. agricultural economy, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Annual (LCEAPR01ATA661N), retrieved from FRED.