Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Australia
Annual, Seasonally Adjusted
LRUN24TTAUA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.41
Year-over-Year Change
-19.64%
Date Range
1/1/1979 - 1/1/2024
Summary
The 'Annual, Seasonally Adjusted' economic trend measures the labor force participation rate for individuals aged 16 and over in the United States. This key economic indicator provides insight into the overall strength and engagement of the U.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 reflects the percentage of the civilian non-institutional population that is either employed or actively seeking work. It is a widely used metric for analyzing the health and dynamics of the U.S. economy and labor market.
Methodology
This data is collected and calculated by the U.S. Bureau of Labor Statistics through monthly household surveys.
Historical Context
Policymakers and economists closely monitor labor force participation to assess economic conditions and inform policy decisions.
Key Facts
- The U.S. labor force participation rate was 62.2% in 2022.
- Participation rates have declined from a peak of 67.3% in 2000.
- Aging population and other factors have contributed to lower participation.
FAQs
Q: What does this economic trend measure?
A: The labor force participation rate measures the percentage of the civilian non-institutional population that is either employed or actively seeking work in the United States.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key economic indicator that provides insight into the overall strength and engagement of the U.S. labor market, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through monthly household surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the labor force participation rate to assess economic conditions and inform policy decisions related to employment, economic growth, and labor market dynamics.
Q: Are there update delays or limitations?
A: The labor force participation rate data is released monthly by the U.S. Bureau of Labor Statistics, with a typical update delay of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Force Participation Rate (LRUN24TTAUA156S), retrieved from FRED.