Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for Australia
Annual, Seasonally Adjusted
LRAC64TTAUA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.37
Year-over-Year Change
5.15%
Date Range
1/1/1979 - 1/1/2024
Summary
This economic trend measures the annual, seasonally adjusted labor productivity in the non-farm business sector, which is a key indicator of economic growth and competitiveness.
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
Labor productivity tracks the output per hour worked, providing insights into the efficiency and technological progress of the U.S. economy. It is closely monitored by policymakers and analysts to gauge the nation's economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Productivity trends influence decision-making on monetary and fiscal policies.
Key Facts
- Annual labor productivity grew by 1.8% in 2021.
- Productivity declined by 2.4% in 2020 due to the COVID-19 pandemic.
- The U.S. has experienced a gradual slowdown in productivity growth since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, seasonally adjusted labor productivity in the non-farm business sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: Labor productivity is a key indicator of economic growth and competitiveness, providing insights into the efficiency and technological progress of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Productivity trends influence decision-making on monetary and fiscal policies, as they reflect the economy's capacity for growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months.
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NAEXKP04AUQ189S
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Population ages 65 and above for Australia
SPPOP65UPTOZSAUS
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRAC64TTAUA156S), retrieved from FRED.