Infra-Annual Labor Statistics: Monthly Unemployment Total: From 15 to 24 Years for Austria
Annual
LFHU24TTATA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,166.67
Year-over-Year Change
-8.86%
Date Range
1/1/1994 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in the ratio of unemployed individuals to the total labor force. As a key economic indicator, it provides insights into the labor market's health and employment 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 Annual trend represents the percent change in the unemployment rate from one year to the next. It is widely used by economists, policymakers, and analysts to assess the strength and direction of the job market and overall economic conditions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Historical Context
This trend is closely monitored by the Federal Reserve and other government agencies to inform economic policy decisions.
Key Facts
- The Annual trend reached a high of 10.1% in 2020 due to the COVID-19 pandemic.
- In 2022, the Annual trend declined to 3.6%, indicating an improving labor market.
- Tracking the Annual trend is crucial for understanding the overall health of the U.S. economy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in the unemployment rate, providing insights into the strength of the labor market.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of economic conditions and helps inform policy decisions by the Federal Reserve and other government agencies.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Population Survey.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by the Federal Reserve and other government agencies to assess the state of the labor market and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly by the U.S. Bureau of Labor Statistics, with minimal update delays.
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Citation
U.S. Federal Reserve, Annual (LFHU24TTATA647S), retrieved from FRED.