Infra-Annual Labor Statistics: Employment: Economic Activity: Services: Total for Austria
LFEASETTATA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,247,125.00
Year-over-Year Change
14.82%
Date Range
1/1/1969 - 1/1/2024
Summary
This trend measures the total employment in the services sector of the Austrian economy, providing insights into the country's economic activity and labor market dynamics.
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 Infra-Annual Labor Statistics: Employment: Economic Activity: Services: Total for Austria tracks the number of individuals employed in the service industry in Austria. This data point is a key indicator of the overall health and performance of the Austrian economy.
Methodology
The data is collected and calculated by the Austrian statistical agency based on labor force surveys.
Historical Context
Policymakers and economists use this trend to assess the strength of the Austrian services sector and make informed decisions about economic policy.
Key Facts
- Austria's services sector accounts for over 70% of its GDP.
- Employment in the services sector has grown by 8% over the past 5 years.
- The services sector is the largest employer in Austria, accounting for over 60% of the workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total employment in the services sector of the Austrian economy, providing insights into the country's economic activity and labor market dynamics.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the overall health and performance of the Austrian economy, which is heavily dependent on the services sector. It is closely monitored by policymakers and economists to inform economic decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Austrian statistical agency based on labor force surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of the Austrian services sector and make informed decisions about economic policy, such as fiscal and monetary measures.
Q: Are there update delays or limitations?
A: The data is released on a regular, intra-annual basis, with a typical delay of 2-3 months. There may be some limitations in capturing the full breadth of the services sector, but the trend is considered a reliable indicator of overall economic activity.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Employment: Economic Activity: Services: Total for Austria (LFEASETTATA647N), retrieved from FRED.