Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 55 to 64 Years for Austria
LRAC55TTATA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.10
Year-over-Year Change
41.35%
Date Range
1/1/1999 - 1/1/2024
Summary
The Labor Force Participation Rate for Austrians aged 55 to 64 years measures the percentage of this age group that is employed or actively seeking work. This statistic is important for economists and policymakers to understand labor market dynamics and labor force 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 labor force participation rate is a key indicator of labor market engagement and economic activity. It represents the share of the working-age population that is employed or actively looking for work. Analyzing participation rates for specific age groups, like 55 to 64 years, provides insights into labor force trends and employment behaviors.
Methodology
This data is collected through household surveys conducted by the Austrian government.
Historical Context
Policymakers use this metric to inform labor, retirement, and economic policies.
Key Facts
- Austria's 55-64 labor force participation rate was 54.5% in 2021.
- Participation rates for older workers have increased in Austria over the past decade.
- Gender gaps in 55-64 participation rates remain a policy focus in Austria.
FAQs
Q: What does this economic trend measure?
A: This metric measures the percentage of Austrians aged 55 to 64 years who are employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: Analyzing labor force participation rates for older workers provides insights into labor market dynamics, employment behaviors, and the potential impact on retirement and economic policies.
Q: How is this data collected or calculated?
A: This data is collected through household surveys conducted by the Austrian government.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform labor, retirement, and economic policies that affect the participation and employment of older workers.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent data, as it is dependent on the frequency of the underlying household surveys.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 55 to 64 Years for Austria (LRAC55TTATA156S), retrieved from FRED.