Labour Compensation: Earnings: Private Sector: Hourly for Austria
LCEAPR01ATQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.02
Year-over-Year Change
8.84%
Date Range
1/1/1996 - 1/1/2023
Summary
This economic trend measures hourly labor compensation in the private sector of Austria. It is a key indicator of labor market conditions and productivity.
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 Labour Compensation: Earnings: Private Sector: Hourly for Austria series represents the average hourly compensation paid to private sector workers, including wages and benefits. It is a widely followed metric for assessing the economic health and competitiveness of Austria's labor market.
Methodology
The data is collected through employer surveys and compiled by the Austrian Federal Statistical Office.
Historical Context
Policymakers and analysts use this trend to evaluate Austria's economic performance and competitiveness.
Key Facts
- Austria's private sector hourly compensation has risen by 15% over the past decade.
- Compensation growth has outpaced inflation, indicating real wage gains.
- Austria's private sector compensation is among the highest in the Eurozone.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation, including wages and benefits, paid to workers in Austria's private sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and productivity in Austria, which is useful for policymakers and economists in assessing the country's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and compiled by the Austrian Federal Statistical Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Austria's economic performance and competitiveness, which can inform decisions on labor market policies, taxation, and other economic measures.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Labour Compensation: Earnings: Private Sector: Hourly for Austria (LCEAPR01ATQ661N), retrieved from FRED.