Infra-Annual Labor Statistics: Employment Total: From 55 to 64 Years for Australia
Growth rate previous period, Annual, Not Seasonally Adjusted
LFEM55TTAUA657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.04
Year-over-Year Change
-40.82%
Date Range
1/1/1980 - 1/1/2022
Summary
This economic trend measures the year-over-year growth rate of the labor force, providing insights into workforce dynamics and economic activity.
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 annual, not seasonally adjusted growth rate of the labor force is a key indicator of the size and composition of the working population. It offers economists and policymakers a high-level view of labor market trends and labor force participation.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The labor force growth rate is closely watched by the Federal Reserve and other institutions for its implications on employment, inflation, and broader economic conditions.
Key Facts
- The U.S. labor force grew by 0.5% in 2022.
- Labor force participation rate was 62.2% as of December 2022.
- The COVID-19 pandemic caused a temporary decline in the labor force growth rate.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year growth rate of the U.S. labor force, which includes all employed and unemployed individuals actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The labor force growth rate is a crucial indicator of the size and dynamics of the working population, providing insights into economic activity, employment, and labor market trends.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly household surveys.
Q: How is this trend used in economic policy?
A: The labor force growth rate is closely monitored by the Federal Reserve and other institutions to assess employment, inflation, and broader economic conditions, informing policy decisions.
Q: Are there update delays or limitations?
A: The labor force growth data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual, Not Seasonally Adjusted (LFEM55TTAUA657N), retrieved from FRED.