Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Canada
Annual, Not Seasonally Adjusted
LRAC24TTCAA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.05
Year-over-Year Change
-3.04%
Date Range
1/1/1976 - 1/1/2024
Summary
This economic trend measures the annual, not seasonally adjusted labor costs per unit of real output for the total manufacturing sector in the United States. It provides insights into inflationary pressures and productivity 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, not seasonally adjusted labor costs per unit of real output is an important indicator of manufacturing sector efficiency and cost-competitiveness. It is widely used by economists and policymakers to assess the health of the manufacturing industry and its impact on the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of manufacturing establishments.
Historical Context
This trend is closely monitored by the Federal Reserve and other economic institutions to inform monetary and fiscal policy decisions.
Key Facts
- Manufacturing labor costs account for a significant portion of total production costs.
- Declining unit labor costs can indicate improvements in manufacturing efficiency.
- Rising unit labor costs may signal inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, not seasonally adjusted labor costs per unit of real output for the total manufacturing sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the efficiency and cost-competitiveness of the manufacturing industry, which is crucial for assessing inflationary pressures and economic productivity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of manufacturing establishments.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other economic institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be some update delays or limitations due to the survey-based nature of the data collection.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRAC24TTCAA156N), retrieved from FRED.