Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Austria
LRAC24TTATQ156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.93
Year-over-Year Change
3.31%
Date Range
1/1/1999 - 1/1/2025
Summary
The Labor Force Participation Rate for Austrians aged 15 to 24 tracks the share of this demographic that is employed or actively seeking work. This metric is a key indicator of labor market health and economic opportunity for young 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 labor force participation rate measures the proportion of the working-age population that is employed or actively seeking employment. Tracking this metric for specific age groups, like 15 to 24 years old, provides insight into labor market dynamics and economic conditions affecting young workers in Austria.
Methodology
The data is collected through household surveys by the Austrian statistical agency.
Historical Context
This metric is closely monitored by policymakers and economists to assess labor market trends and inform economic policies.
Key Facts
- The labor force participation rate for Austrians aged 15-24 was 54.3% in 2021.
- Youth labor force participation in Austria has declined over the past decade.
- Policies to boost education and job training are aimed at increasing young worker participation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of the Austrian population aged 15 to 24 years old that is employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The youth labor force participation rate is a key indicator of economic opportunity and labor market health for young workers, making it important for policymakers and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Austrian statistical agency.
Q: How is this trend used in economic policy?
A: Trends in youth labor force participation inform policies aimed at boosting education, job training, and labor market access for young workers in Austria.
Q: Are there update delays or limitations?
A: The data is updated on an infra-annual basis, with some potential delays in collection and reporting.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Austria (LRAC24TTATQ156S), retrieved from FRED.