Labor Compensation: Earnings: All Activities: Hourly for Spain
LCEATT01ESQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.42
Year-over-Year Change
7.80%
Date Range
1/1/1981 - 7/1/2023
Summary
This economic trend measures hourly labor compensation for all activities in Spain. It provides key insights into the cost of labor and workforce productivity, which are crucial indicators for economists and policymakers.
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: All Activities: Hourly for Spain tracks the average hourly earnings for workers across all industries in the Spanish economy. This metric is widely used to analyze trends in labor costs, worker productivity, and the overall competitiveness of the Spanish labor market.
Methodology
The data is collected through surveys of Spanish businesses and compiled by the country's statistical agency.
Historical Context
This economic indicator is closely monitored by policymakers, investors, and labor market analysts to assess the health of the Spanish economy.
Key Facts
- Spain's average hourly labor compensation was €16.80 in 2022.
- Labor costs account for over 50% of total business expenses in Spain.
- Spain's labor productivity lags behind other major European economies.
FAQs
Q: What does this economic trend measure?
A: The Labor Compensation: Earnings: All Activities: Hourly for Spain tracks the average hourly labor earnings across all industries in the Spanish economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into labor costs, worker productivity, and the overall competitiveness of the Spanish labor market, which are critical factors for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Spanish businesses and compiled by the country's statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor this indicator to assess the health of the Spanish economy and make informed decisions regarding labor market regulations, taxation, and other economic policies.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a slight delay. There may be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: All Activities: Hourly for Spain (LCEATT01ESQ189N), retrieved from FRED.