Labor Compensation: Earnings: Private Sector: Hourly for Austria
LCEAPR01ATA661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.57
Year-over-Year Change
44.08%
Date Range
1/1/1996 - 1/1/2022
Summary
This economic trend measures average hourly earnings in the private sector in Austria, providing insights into labor compensation and productivity.
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 Compensation: Earnings: Private Sector: Hourly for Austria series tracks the average hourly earnings of private sector workers, a key indicator of economic performance and worker purchasing power.
Methodology
The data is collected through employer surveys and compiled by the Austrian statistical agency.
Historical Context
This metric is widely used by economists, policymakers, and investors to gauge the health of the Austrian labor market and economy.
Key Facts
- Austria's private sector hourly earnings have increased by 20% over the past decade.
- Wage growth has lagged behind inflation in recent years, putting pressure on worker purchasing power.
- The earnings trend is closely watched by the Austrian central bank and government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of private sector workers in Austria, providing insights into labor compensation and productivity.
Q: Why is this trend relevant for users or analysts?
A: The private sector earnings trend is a key indicator of the health of the Austrian labor market and economy, used by economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and compiled by the Austrian statistical agency.
Q: How is this trend used in economic policy?
A: This metric is closely watched by the Austrian central bank and government to gauge labor market conditions and guide economic policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, providing timely insights into labor compensation trends.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Private Sector: Hourly for Austria (LCEAPR01ATA661S), retrieved from FRED.