Harmonized Unemployment: Monthly Levels: Aged 25 and over: All Persons for Estonia
LFHUADTTEEM647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,000.00
Year-over-Year Change
20.69%
Date Range
1/1/2000 - 11/1/2023
Summary
The Harmonized Unemployment rate measures the percentage of the labor force aged 25 and over in Estonia that is unemployed. This key economic indicator provides insights into the health and stability of the Estonian labor market.
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 Harmonized Unemployment rate is a standardized measure of unemployment developed by the International Labour Organization (ILO) to allow for cross-country comparisons. It represents the share of the labor force aged 25 and over in Estonia that is actively seeking work but unable to find it.
Methodology
The data is collected through household surveys conducted by national statistical agencies.
Historical Context
Policymakers and economists closely monitor this trend to gauge the strength of the Estonian economy and inform decisions on fiscal and monetary policy.
Key Facts
- The harmonized unemployment rate in Estonia was 5.4% as of the latest data.
- Estonia's unemployment rate is below the European Union average.
- Unemployment levels have steadily declined in Estonia since the global financial crisis.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Unemployment rate measures the percentage of the labor force aged 25 and over in Estonia that is unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: This key labor market indicator provides insights into the health and stability of the Estonian economy, which is crucial information for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Estonian national statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor the harmonized unemployment rate to assess labor market conditions and inform decisions on fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis with a short lag, providing timely insights into the Estonian labor market.
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Citation
U.S. Federal Reserve, Harmonized Unemployment: Monthly Levels: Aged 25 and over: All Persons for Estonia (LFHUADTTEEM647S), retrieved from FRED.