Infra-Annual Labor Statistics: Labor Force Total: From 15 to 74 Years for Hungary
LFAC74TTHUA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,919,725.00
Year-over-Year Change
14.40%
Date Range
1/1/1999 - 1/1/2024
Summary
This economic trend measures the total labor force in Hungary for individuals aged 15 to 74 years. It provides valuable insights into the size and composition of the country's working-age population, which is crucial for policymakers and economists to understand 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 74 Years for Hungary tracks the size of the economically active population in the country, including both employed and unemployed individuals within the specified age range. This data is widely used to analyze workforce participation, employment trends, and potential labor supply.
Methodology
The data is collected through household surveys conducted by the Hungarian Central Statistical Office.
Historical Context
This trend is closely monitored by policymakers, labor economists, and market analysts to assess the overall health of the Hungarian labor market and inform economic decision-making.
Key Facts
- The labor force in Hungary totaled 4.7 million people in 2022.
- The labor force participation rate in Hungary was 70.2% in 2022.
- The unemployment rate in Hungary was 3.6% as of the latest data.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor force in Hungary for individuals aged 15 to 74 years, including both employed and unemployed individuals within this age range.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the size and composition of the working-age population in Hungary, which is crucial for understanding labor market dynamics and informing economic policymaking.
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: This trend is closely monitored by policymakers, labor economists, and market analysts to assess the overall health of the Hungarian labor market and inform economic decision-making.
Q: Are there update delays or limitations?
A: The data is released on a regular basis, but there may be some delays in publication due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Total: From 15 to 74 Years for Hungary (LFAC74TTHUA647S), retrieved from FRED.