Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Luxembourg
Annual, Not Seasonally Adjusted
LRUN24TTLUA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.30
Year-over-Year Change
14.67%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures the total labor force in the United States, providing a comprehensive view of the working-age population. It is a key indicator for economists and policymakers to assess the overall health and growth of the 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 total labor force is defined as the sum of all employed and unemployed individuals in the civilian, non-institutional population aged 16 and over. This metric represents the total supply of labor available for economic production and is a fundamental input for a range of economic analyses and policy decisions.
Methodology
The data is collected through the monthly Current Population Survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Historical Context
The total labor force trend is closely monitored by the Federal Reserve, government agencies, and private sector analysts to gauge the strength of the U.S. economy and inform policy decisions.
Key Facts
- The U.S. total labor force reached a record high of over 164 million in 2019.
- Labor force participation rates have declined in recent decades due to demographic shifts and other factors.
- Tracking the total labor force is crucial for assessing the economy's productive capacity and potential growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total size of the civilian, non-institutional labor force in the United States, including both employed and unemployed individuals aged 16 and over.
Q: Why is this trend relevant for users or analysts?
A: The total labor force is a key indicator of the overall health and growth potential of the U.S. economy, providing important insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Population Survey conducted by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Monitoring the total labor force is crucial for the Federal Reserve, government agencies, and private sector analysts to assess the strength of the labor market and inform policy decisions.
Q: Are there update delays or limitations?
A: The total labor force data is published monthly with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRUN24TTLUA156N), retrieved from FRED.