Infra-Annual Labor Statistics: Labor Force Total: From 15 to 24 Years for Hungary
LFAC24TTHUA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
310,575.00
Year-over-Year Change
3.49%
Date Range
1/1/1999 - 1/1/2024
Summary
This economic trend measures the total labor force participation rate for individuals aged 15 to 24 years in Hungary. It provides key insights into youth employment and labor market dynamics.
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 Hungary tracks the size and participation rate of the young working population in the country. This data series is used by economists and policymakers to assess labor market conditions and develop targeted policies.
Methodology
The data is collected through household surveys conducted by the Hungarian Central Statistical Office.
Historical Context
This labor force participation metric is closely monitored by government agencies and financial institutions to gauge economic performance and workforce trends.
Key Facts
- Hungary's youth labor force participation rate was 36.4% in 2021.
- Youth employment is a key indicator of economic vitality and future workforce potential.
- Labor force participation among 15-24 year olds has declined in Hungary over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor force participation rate for individuals aged 15 to 24 years in Hungary. It provides insights into youth employment and workforce dynamics.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to assess labor market conditions and develop targeted policies to support youth employment and economic development.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Hungarian Central Statistical Office.
Q: How is this trend used in economic policy?
A: Government agencies and financial institutions monitor this labor force participation metric to gauge economic performance and workforce trends, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released on an infra-annual basis, so there may be some delay in availability compared to monthly or quarterly labor market indicators.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Total: From 15 to 24 Years for Hungary (LFAC24TTHUA647N), retrieved from FRED.