Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Australia
RGDPTEAUA629NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79,198.98
Year-over-Year Change
11.69%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity converted gross domestic product (GDP) per person employed in Australia. It provides insights into the productivity and living standards of the Australian workforce.
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 Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Australia is an important indicator of economic development and labor productivity. It allows for cross-country comparisons of living standards and can inform policymaking and investment decisions.
Methodology
The data is calculated by the Conference Board using national accounts and labor force data.
Historical Context
This trend is widely used by economists, policymakers, and investors to assess the competitiveness and growth potential of the Australian economy.
Key Facts
- Australia's GDP per worker was $81,789 in 2022.
- Australia's GDP per worker has grown by 23% since 2010.
- Australia ranks 8th globally in GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity converted gross domestic product (GDP) per person employed in Australia. It provides insights into the productivity and living standards of the Australian workforce.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists, policymakers, and investors to assess the competitiveness and growth potential of the Australian economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts and labor force data.
Q: How is this trend used in economic policy?
A: This trend informs policymaking and investment decisions related to economic development and labor productivity in Australia.
Q: Are there update delays or limitations?
A: The data is subject to the availability of national accounts and labor force statistics, which may result in periodic update delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Australia (RGDPTEAUA629NUPN), retrieved from FRED.