Infra-Annual Labor Statistics: Unemployment Rate Total: From 55 to 64 Years for Australia
Annual, Seasonally Adjusted
LRUN55TTAUA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.07
Year-over-Year Change
-11.14%
Date Range
1/1/1979 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the civilian labor force participation rate in the United States. This key economic indicator provides insights into labor market dynamics and workforce engagement.
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 civilian labor force participation rate tracks the percentage of the civilian non-institutional population aged 16 and over that is either employed or actively seeking work. It is a crucial measure of the size and composition of the U.S. labor force.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
This metric is widely used by economists, policymakers, and analysts to assess the health and trends of the U.S. labor market.
Key Facts
- The U.S. labor force participation rate averaged 62.2% in 2022.
- Participation rates are lower for older workers and women compared to younger workers and men.
- The participation rate peaked at 67.3% in early 2000 before declining in subsequent years.
FAQs
Q: What does this economic trend measure?
A: The Annual, Seasonally Adjusted trend measures the percentage of the civilian non-institutional population aged 16 and over 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 indicator of the size and composition of the U.S. workforce, providing insights into labor market dynamics and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Population Survey conducted monthly by the U.S. Census Bureau on behalf of the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the labor force participation rate to assess labor market conditions, inform monetary and fiscal policy decisions, and develop strategies to promote employment and economic growth.
Q: Are there update delays or limitations?
A: The labor force participation rate data is published monthly with a lag of approximately one month, and may be subject to revisions as more complete information becomes available.
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FAEEFNAUQ052N
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AUSLOCODWNOSTSAM
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRUN55TTAUA156S), retrieved from FRED.