Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for United States
RGDPTHUSA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.54
Year-over-Year Change
24.89%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for the United States is an important economic indicator that measures productivity and standard of living.
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
This metric represents the total output of goods and services produced in the United States, adjusted for differences in purchasing power across countries. It is a valuable tool for economists and policymakers to compare economic performance and living standards internationally.
Methodology
The data is calculated by the Conference Board using national accounts data and purchasing power parity conversion factors.
Historical Context
This trend is widely used to assess the competitiveness and efficiency of the U.S. economy.
Key Facts
- The U.S. ranked 4th globally in GDP per hour worked in 2021.
- GDP per hour worked has grown by over 60% in the U.S. since 1990.
- Productivity is a key driver of long-term economic growth and living standards.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total output of goods and services produced in the United States, adjusted for differences in purchasing power across countries and divided by the number of hours worked by employees.
Q: Why is this trend relevant for users or analysts?
A: This trend is a valuable tool for economists and policymakers to compare economic performance and living standards internationally, as it provides a more accurate assessment of productivity and competitiveness than unadjusted GDP per capita.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts data and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: This trend is widely used to assess the competitiveness and efficiency of the U.S. economy, and to inform policies aimed at boosting productivity and living standards.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with some potential delays due to the complexity of the calculations involved.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for United States (RGDPTHUSA630NUPN), retrieved from FRED.