Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Sweden
Annual, Not Seasonally Adjusted
LRAC24TTSEA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56.83
Year-over-Year Change
7.78%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the annual, not seasonally adjusted labor cost index for the total private nonfarm business sector in the United States. It is a key indicator of inflationary pressures and labor market dynamics for economists and policymakers.
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 cost index tracks changes in the total compensation costs for private nonfarm businesses, including wages, salaries, and benefits. It is used to analyze labor market trends and inform monetary and fiscal policy decisions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Employment Cost Index survey.
Historical Context
This labor cost metric is closely monitored by the Federal Reserve and other economic institutions to gauge inflationary risks and the overall health of the labor market.
Key Facts
- The index has a base year of 2001 = 100.
- It covers 80% of U.S. civilian workers.
- The index rose 5.1% in 2022 compared to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, not seasonally adjusted labor cost index for the total private nonfarm business sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: The labor cost index is a key indicator of inflationary pressures and labor market dynamics, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Employment Cost Index survey.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other economic institutions closely monitor this labor cost metric to gauge inflationary risks and the overall health of the labor market, informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released quarterly with a one-month lag, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRAC24TTSEA156N), retrieved from FRED.