Infra-Annual Labor Statistics: Inactivity Rate Total: From 55 to 64 Years for Canada
Annual, Not Seasonally Adjusted
LRIN55TTCAA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.15
Year-over-Year Change
-13.31%
Date Range
1/1/1976 - 1/1/2024
Summary
This annual, not seasonally adjusted economic indicator measures the ratio of labor compensation to nominal output in the U.S. non-farm business sector. It provides insight into productivity and labor market dynamics.
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 productivity and costs series calculates the relationship between output and the labor used to produce that output. It is a key metric for understanding economic growth, inflationary pressures, and the broader health of the labor market.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics using production and employment figures.
Historical Context
Policymakers and analysts monitor this metric to gauge overall economic conditions and guide decisions on interest rates, monetary policy, and other interventions.
Key Facts
- The annual labor productivity ratio averaged 65.5% from 1947-2022.
- Productivity growth is a key driver of long-term economic expansion.
- Rising unit labor costs can signal inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the ratio of labor compensation to nominal output in the U.S. non-farm business sector, providing insight into productivity and labor market dynamics.
Q: Why is this trend relevant for users or analysts?
A: Monitoring labor productivity is crucial for understanding economic growth, inflationary pressures, and the overall health of the labor market.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects the underlying production and employment data and calculates the labor productivity ratio.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge overall economic conditions and guide decisions on interest rates, monetary policy, and other interventions.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted labor productivity data is published with a lag by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRIN55TTCAA156N), retrieved from FRED.