Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 55 to 64 Years for Ireland
LFIN55TTIEA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
184,025.00
Year-over-Year Change
-12.43%
Date Range
1/1/2000 - 1/1/2024
Summary
This economic trend measures the number of persons aged 55 to 64 years who are not actively participating in the labor force in Ireland. It provides insights into workforce participation and retirement patterns for this demographic.
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 Ireland metric tracks individuals between the ages of 55 and 64 who are not employed or actively seeking work. This data series is used by economists and policymakers to analyze labor market dynamics and workforce engagement for older workers.
Methodology
The data is collected through household surveys conducted by the Irish Central Statistics Office.
Historical Context
This trend offers valuable context for pension, social welfare, and labor force policies targeting older workers in Ireland.
Key Facts
- Ireland's 55-64 year old population outside the labor force was 462.2 thousand in Q4 2022.
- The rate of non-participation for this age group has declined from 47.9% in 2015 to 42.4% in 2022.
- Women aged 55-64 have a higher rate of non-participation compared to men in the same age group.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals aged 55 to 64 years in Ireland who are not actively participating in the labor force, either through employment or job seeking.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market dynamics and workforce engagement for older workers in Ireland, which is valuable for policymakers and economists analyzing trends in employment, retirement, and social welfare.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Irish Central Statistics Office.
Q: How is this trend used in economic policy?
A: This trend offers valuable context for pension, social welfare, and labor force policies targeting older workers in Ireland.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical 2-3 month delay after the end of the reference period.
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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 Ireland (LFIN55TTIEA647S), retrieved from FRED.