Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Canada
RGDPTHCAA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.89
Year-over-Year Change
13.79%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per hour worked by employees in Canada. It provides insights into labor productivity and the international competitiveness of the Canadian economy.
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 hour worked by employees for Canada is an important indicator used by economists and policymakers to assess the productivity and international competitiveness of the Canadian labor force. It allows for cross-country comparisons of economic output per unit of labor input.
Methodology
The data is calculated by the U.S. Federal Reserve using PPP conversion factors and labor force statistics.
Historical Context
This trend is widely used to inform economic policy decisions and evaluate the performance of the Canadian economy relative to its international peers.
Key Facts
- Canada's GDP per hour worked was $50.29 in 2020.
- Canada's labor productivity ranked 8th among OECD countries in 2020.
- The trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per hour worked by employees in Canada. It provides insights into labor productivity and the international competitiveness of the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists and policymakers to assess the productivity and international competitiveness of the Canadian labor force, allowing for cross-country comparisons of economic output per unit of labor input.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using purchasing power parity conversion factors and labor force statistics.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic policy decisions and evaluate the performance of the Canadian economy relative to its international peers.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be some delays in reporting due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Canada (RGDPTHCAA630NUPN), retrieved from FRED.