Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Austria
LRUN24TTATA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.25
Year-over-Year Change
2.66%
Date Range
1/1/1999 - 1/1/2024
Summary
The Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Austria measures the percentage of the Austrian labor force aged 15 to 24 that is unemployed. This key youth unemployment metric provides insight into the economic opportunities and labor market challenges facing young adults in Austria.
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
This economic indicator represents the proportion of the Austrian labor force aged 15 to 24 that is currently without work but actively seeking employment. It is a crucial measure of youth joblessness and economic inclusion, used by policymakers and analysts to assess the health of the Austrian labor market.
Methodology
The data is collected through household surveys conducted by the Austrian government.
Historical Context
This youth unemployment rate is closely watched by economists and policymakers to inform labor market and economic development policies.
Key Facts
- Austria's youth unemployment rate averaged 8.4% from 2010-2020.
- Young adults aged 15-24 account for 8.7% of Austria's total labor force.
- Youth joblessness is a persistent challenge, with rates typically double the overall unemployment level.
FAQs
Q: What does this economic trend measure?
A: The Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Austria measures the percentage of the Austrian labor force aged 15 to 24 that is unemployed.
Q: Why is this trend relevant for users or analysts?
A: This youth unemployment rate is a crucial metric for assessing the economic opportunities and labor market challenges facing young adults in Austria, and is closely watched by policymakers to inform labor market policies.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Austrian government.
Q: How is this trend used in economic policy?
A: This youth unemployment rate is used by economists and policymakers to assess the health of the Austrian labor market and inform policies aimed at promoting economic inclusion and development.
Q: Are there update delays or limitations?
A: There may be some time lag in the availability of the most recent data, as it is collected through government surveys.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Austria (LRUN24TTATA156S), retrieved from FRED.