Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 55 to 64 Years for Australia
LFIN55TTAUA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
934,294.90
Year-over-Year Change
-0.86%
Date Range
1/1/1979 - 1/1/2024
Summary
This economic trend measures the total number of persons aged 55 to 64 years who are outside the Australian labor force. It provides insights into workforce participation and labor market dynamics among older workers.
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: Persons Outside the Labor Force Total: From 55 to 64 Years for Australia' series tracks the number of Australians aged 55 to 64 who are not employed or actively seeking work. This data is used by economists and policymakers to analyze labor force trends and workforce aging.
Methodology
The data is collected through the Australian Bureau of Statistics' labor force surveys.
Historical Context
This trend is relevant for assessing labor market conditions, workforce participation, and policy issues around retirement and aging populations.
Key Facts
- Australia has an aging population with high rates of older adults outside the labor force.
- Workforce participation among 55-64 year olds is a key policy issue in many developed economies.
- Tracking this trend over time provides insights into labor market dynamics and retirement patterns.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of Australians aged 55 to 64 years who are not employed or actively seeking work, providing insights into labor force participation among older adults.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding workforce dynamics, labor market conditions, and policy issues around aging populations and retirement patterns.
Q: How is this data collected or calculated?
A: The data is collected through the Australian Bureau of Statistics' labor force surveys.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess labor market conditions, workforce participation, and issues related to retirement and aging populations.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and potential sampling or methodological limitations associated with labor force surveys.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 55 to 64 Years for Australia (LFIN55TTAUA647N), retrieved from FRED.