Infra-Annual Labor Statistics: Labor Force Total: From 15 to 24 Years for Austria
LFAC24TTATA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
518,625.00
Year-over-Year Change
-11.42%
Date Range
1/1/1999 - 1/1/2024
Summary
This economic trend measures the total labor force in Austria for individuals aged 15 to 24 years. It provides valuable insights into the dynamics of the country's young workforce, which is crucial for policymakers and economists analyzing labor market trends.
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 Infra-Annual Labor Statistics: Labor Force Total: From 15 to 24 Years for Austria tracks the size and composition of the Austrian labor force for this key demographic. This data is used by economists and policymakers to understand labor market participation, employment, and workforce development trends.
Methodology
The data is collected through household surveys conducted by the Austrian statistical agency.
Historical Context
This trend is widely used to inform economic policies and labor market interventions targeting youth employment and workforce development.
Key Facts
- Austria's labor force aged 15-24 totaled 723,000 in 2021.
- The youth labor force participation rate in Austria was 54.7% in 2021.
- Austria's youth unemployment rate stood at 9.3% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor force in Austria for individuals aged 15 to 24 years, providing insights into the size and composition of the country's young workforce.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for policymakers and economists analyzing labor market trends, as the youth labor force is a key demographic for understanding employment, workforce development, and economic growth.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Austrian statistical agency.
Q: How is this trend used in economic policy?
A: This trend is widely used to inform economic policies and labor market interventions targeting youth employment and workforce development in Austria.
Q: Are there update delays or limitations?
A: There may be some delays in the availability of the most recent data, as it is collected through periodic household surveys.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Total: From 15 to 24 Years for Austria (LFAC24TTATA647N), retrieved from FRED.