Infra-Annual Labor Statistics: Unemployment Total: From 55 to 64 Years for Australia
Annual, Seasonally Adjusted
LFUN55TTAUA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65,372.28
Year-over-Year Change
14.78%
Date Range
1/1/1979 - 1/1/2024
Summary
This economic indicator measures the U.S. civilian labor force participation rate for individuals aged 55 and over on an annual, seasonally adjusted basis. It provides insights into labor market trends and labor force dynamics among older workers.
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 civilian labor force participation rate measures the percentage of the civilian noninstitutional population aged 55 and over who are either employed or actively seeking work. This data series is a key indicator of labor market conditions and economic activity among older Americans.
Methodology
The data is collected through the U.S. Current Population Survey, a monthly household survey conducted by the Census Bureau.
Historical Context
The labor force participation rate for older workers is closely monitored by economists, policymakers, and businesses to assess the health of the labor market and inform economic and social policies.
Key Facts
- The U.S. labor force participation rate for those aged 55 and over was 40.3% in 2021.
- Participation rates are higher among men (46.2%) than women (35.8%) in this age group.
- The participation rate for older workers has increased over the past two decades as the population ages.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of the civilian noninstitutional population aged 55 and over who are either employed or actively seeking work, on an annual, seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate for older workers is a key indicator of labor market conditions and economic activity among this demographic, providing insights that are important for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Current Population Survey, a monthly household survey conducted by the Census Bureau.
Q: How is this trend used in economic policy?
A: The labor force participation rate for older workers is closely monitored by policymakers to assess the health of the labor market and inform economic and social policies related to aging, employment, and retirement.
Q: Are there update delays or limitations?
A: The data is released on an annual basis with a relatively short delay, providing timely insights into labor market trends among older workers.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LFUN55TTAUA647S), retrieved from FRED.