Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Ireland
LRAC24TTIEQ156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53.04
Year-over-Year Change
-2.04%
Date Range
4/1/1999 - 1/1/2025
Summary
The Labor Force Participation Rate for 15 to 24 year olds in Ireland measures the percentage of the working-age population in this age group who are employed or actively seeking work. This statistic is a key indicator of labor market engagement and economic opportunity for young people.
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 represents the active portion of an economy's labor force. It reflects the relative number of working-age people who are employed or looking for work. Tracking participation rates by age group provides insights into workforce dynamics and potential skills gaps.
Methodology
This data is collected through household labor force surveys conducted by the Irish Central Statistics Office.
Historical Context
Policymakers and economists use this metric to assess labor market trends and evaluate the effectiveness of programs aimed at boosting youth employment.
Key Facts
- Ireland's youth labor force participation rate was 51.9% in 2022.
- Youth participation rates in Ireland have declined over the past two decades.
- Boosting youth labor force engagement is a key policy priority in Ireland.
FAQs
Q: What does this economic trend measure?
A: This metric measures the percentage of the Irish population aged 15 to 24 who are employed or actively seeking work, known as the labor force participation rate.
Q: Why is this trend relevant for users or analysts?
A: The youth labor force participation rate is a crucial indicator of economic opportunity and labor market engagement for young people, which is important for policymakers and economists.
Q: How is this data collected or calculated?
A: This data is collected through household labor force surveys conducted by the Irish Central Statistics Office.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess labor market trends and evaluate the effectiveness of programs aimed at boosting youth employment.
Q: Are there update delays or limitations?
A: There may be delays in data availability, and the survey methodology may have certain limitations in capturing all labor force participants.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Ireland (LRAC24TTIEQ156S), retrieved from FRED.