Labor Compensation: Earnings: Private Sector: Hourly for Austria
LCEAPR01ATQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.49
Year-over-Year Change
19.17%
Date Range
1/1/1996 - 7/1/2023
Summary
The 'Labor Compensation: Earnings: Private Sector: Hourly for Austria' trend measures the average hourly earnings of private sector workers in Austria. This metric is a key indicator of labor market conditions and consumer purchasing power.
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 economic indicator tracks the nominal, unadjusted hourly earnings of employees in the Austrian private sector. It represents the average compensation paid to workers for each hour of labor performed, providing insight into wage and labor cost dynamics.
Methodology
The data is collected through employer surveys and compiled by the Austrian national statistical agency.
Historical Context
This hourly earnings trend is widely used by economists, policymakers, and market analysts to assess the strength of the Austrian economy and consumer demand.
Key Facts
- Austria's private sector hourly earnings reached a record high in 2022.
- Wage growth has lagged behind inflation in Austria in recent years.
- The hourly earnings trend is a key input for monitoring consumer purchasing power.
FAQs
Q: What does this economic trend measure?
A: The 'Labor Compensation: Earnings: Private Sector: Hourly for Austria' trend measures the average hourly earnings of private sector workers in Austria.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage and labor cost dynamics, which are crucial for assessing the strength of the Austrian economy and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and compiled by the Austrian national statistical agency.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts widely use this hourly earnings trend to monitor the Austrian labor market and consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule, but there may be occasional delays or revisions due to the survey-based methodology.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: All Items Non-Food Non-Energy for Austria
CPGRLE01ATQ659N
Harmonized Index of Consumer Prices: Actual Rentals for Housing for Austria
CP0410ATM086NEST
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Transport for Austria
AUTCPHP0700IXOBM
Leading Indicators OECD: Reference Series: Gross Domestic Product (GDP): Original Series for Austria
LORSGPORATQ659S
Financial Market: Real Effective Exchange Rates: CPI Based for Austria
CCRETT01ATA661N
Leading Indicators OECD: Reference series: Gross Domestic Product (GDP): Ratio to trend for Austria
AUTLORSGPRTSTSAM
Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Private Sector: Hourly for Austria (LCEAPR01ATQ661S), retrieved from FRED.