Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Austria
Annual, Seasonally Adjusted
LRAC24TTATA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.18
Year-over-Year Change
-4.11%
Date Range
1/1/1999 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the total factor productivity (TFP) for the U.S. non-farm business sector. TFP is an important macroeconomic indicator of technological progress and efficiency.
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
Total factor productivity (TFP) is a measure of the overall efficiency of an economy, factoring in both labor and capital inputs. This annual, seasonally adjusted metric helps economists and policymakers assess long-term growth trends and the potential for further productivity gains.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using a growth accounting framework.
Historical Context
TFP is a key input for economic forecasting and policy analysis by the Federal Reserve and other institutions.
Key Facts
- TFP grew by 1.2% in 2021.
- The U.S. has seen average annual TFP growth of 1.1% since 1990.
- TFP is a key driver of long-term economic expansion.
FAQs
Q: What does this economic trend measure?
A: The Annual, Seasonally Adjusted trend measures total factor productivity (TFP) for the U.S. non-farm business sector, a key indicator of technological progress and economic efficiency.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial metric for understanding long-term economic growth potential and the impact of technological innovation. It helps inform economic forecasting and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using a growth accounting framework.
Q: How is this trend used in economic policy?
A: TFP is a key input for economic forecasting and policy analysis by the Federal Reserve and other institutions to assess long-term growth trends and the potential for productivity gains.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRAC24TTATA156S), retrieved from FRED.