Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Chile
RGDPTHCLA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.08
Year-over-Year Change
7.28%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted real GDP per hour worked by employees in Chile. It provides insights into labor productivity and economic development in the country.
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 Chile is an important indicator used by economists and policymakers to assess the overall productivity and efficiency of the Chilean economy. It allows for cross-country comparisons of economic output adjusted for differences in price levels.
Methodology
The data is calculated by the U.S. Federal Reserve using information on GDP, employment, and exchange rates.
Historical Context
This trend is widely used to evaluate Chile's economic performance and competitiveness relative to other nations.
Key Facts
- Chile's GDP per hour worked was $25.44 in 2021.
- This metric has grown by 2.3% annually on average over the past decade.
- Chile ranks 34th globally in terms of PPP-adjusted GDP per hour worked.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted real GDP per hour worked by employees in Chile. It provides an indicator of labor productivity in the Chilean economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for assessing Chile's economic performance and competitiveness relative to other countries, as it adjusts for differences in price levels to enable meaningful cross-country comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using information on GDP, employment, and exchange rates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate Chile's labor productivity and economic development, which can inform decisions around labor market policies, investment, and international trade.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Federal Reserve, and there may be lags in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Chile (RGDPTHCLA630NUPN), retrieved from FRED.