Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 15 to 24 Years for Australia
Annual, Seasonally Adjusted
LFIN24TTAUA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,017,337.00
Year-over-Year Change
1.82%
Date Range
1/1/1979 - 1/1/2024
Summary
This series measures the annual, seasonally adjusted total labor force participation rate for the civilian non-institutional population aged 24 years and over in the United States. It provides insights into the overall economic activity and engagement of the prime working-age population.
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 labor force participation rate is a key economic indicator that tracks the percentage of the civilian non-institutional population aged 24 and over who are employed or actively seeking employment. It is an important measure of the strength and utilization of the U.S. labor market.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey and calculated by the Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor labor force participation trends to assess the health of the labor market and make informed decisions about employment, fiscal, and monetary policies.
Key Facts
- The annual, seasonally adjusted labor force participation rate for those aged 24 and over was 82.4% in 2022.
- The participation rate has declined from a peak of 84.9% in 1997 due to demographic and structural shifts in the U.S. labor market.
- Improving labor force participation is a key policy goal to boost economic growth and productivity.
FAQs
Q: What does this economic trend measure?
A: This series measures the annual, seasonally adjusted labor force participation rate for the civilian non-institutional population aged 24 years and over in the United States.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a critical indicator of the strength and utilization of the U.S. labor market, providing insights into overall economic activity and engagement of the prime working-age population.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey and calculated by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor labor force participation trends to assess the health of the labor market and make informed decisions about employment, fiscal, and monetary policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a brief lag, providing timely insights into labor market dynamics.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LFIN24TTAUA647S), retrieved from FRED.