Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 74 Years for Hungary
LRAC74TTHUA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.10
Year-over-Year Change
20.91%
Date Range
1/1/1999 - 1/1/2024
Summary
The Labor Force Participation Rate Total: From 15 to 74 Years for Hungary measures the percentage of the working-age population that is employed or actively seeking work. This statistic is a key indicator of the overall health and utilization of a nation's labor market.
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, which includes both the employed population and the unemployed population, but excludes those not actively seeking work. This metric is widely used by economists and policymakers to assess labor market dynamics and labor supply trends.
Methodology
The data is collected through national labor force surveys conducted by the Hungarian Central Statistical Office.
Historical Context
Policymakers and analysts monitor this metric to understand labor market trends and evaluate the effectiveness of economic and employment policies.
Key Facts
- The labor force participation rate in Hungary was 60.7% in 2021.
- Hungary's participation rate has remained relatively stable over the past decade.
- The rate is higher for men than women in Hungary.
FAQs
Q: What does this economic trend measure?
A: The Labor Force Participation Rate Total: From 15 to 74 Years for Hungary measures the percentage of the working-age population that is employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess labor market dynamics and labor supply trends, which informs economic and employment policies.
Q: How is this data collected or calculated?
A: The data is collected through national labor force surveys conducted by the Hungarian Central Statistical Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to understand labor market trends and evaluate the effectiveness of economic and employment policies.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule, but there may be some delays in availability or limitations in geographic or demographic coverage.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 74 Years for Hungary (LRAC74TTHUA156N), retrieved from FRED.