Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for Slovak Republic
LRAC64TTSKA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.60
Year-over-Year Change
7.36%
Date Range
1/1/1999 - 1/1/2024
Summary
The Labor Force Participation Rate (Total: From 15 to 64 Years) for the Slovak Republic measures the percentage of the working-age population that is employed or actively seeking employment. This metric is a key indicator of labor market health and economic productivity.
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 share of the civilian non-institutional population aged 15 to 64 that is either employed or unemployed but actively seeking work. It is a widely tracked statistic used by economists and policymakers to gauge the overall strength and participation in the Slovak labor market.
Methodology
This data is collected through household surveys by the Slovak statistical agency.
Historical Context
The labor force participation rate is used to assess the utilization of a country's working-age population and can inform economic and workforce development policies.
Key Facts
- The labor force participation rate in Slovakia was 72.1% in 2021.
- Slovakia's participation rate has declined from a high of 74.1% in 2008.
- Women have a lower labor force participation rate than men in Slovakia.
FAQs
Q: What does this economic trend measure?
A: The Labor Force Participation Rate measures the percentage of the working-age population in Slovakia that is employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key indicator of the overall health and utilization of a country's labor market, providing insight into economic productivity and workforce engagement.
Q: How is this data collected or calculated?
A: This data is collected through household surveys conducted by the Slovak statistical agency.
Q: How is this trend used in economic policy?
A: The labor force participation rate is used by economists and policymakers to assess the strength of the labor market and inform workforce development initiatives and economic policies.
Q: Are there update delays or limitations?
A: The data is updated on an infra-annual basis, with some potential for lag in reporting from the original survey collection.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for Slovak Republic (LRAC64TTSKA156N), retrieved from FRED.