Labor Compensation: Earnings: All Activities: Weekly for Australia
Quarterly, Seasonally Adjusted
LCEATT02AUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,399.10
Year-over-Year Change
18.67%
Date Range
10/1/1983 - 4/1/2023
Summary
This economic trend measures the Quarterly, Seasonally Adjusted labor cost per hour worked in Australia. It provides important insights into labor market dynamics 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 Quarterly, Seasonally Adjusted labor cost per hour trend represents the total hourly compensation paid to employees in Australia, including wages, salaries, and supplements. It is a key indicator used by economists and policymakers to analyze labor market conditions and labor productivity.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics.
Historical Context
This trend is widely used to inform monetary and fiscal policy decisions.
Key Facts
- Australia's labor cost per hour has risen by over 50% in the last 20 years.
- Wages account for the largest share of total labor costs in Australia.
- Labor productivity growth is a key driver of long-term economic prosperity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hourly compensation paid to employees in Australia, including wages, salaries, and supplements.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor market dynamics and productivity, which are crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a short delay, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted (LCEATT02AUQ189S), retrieved from FRED.