Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 15 to 64 Years for Canada
Annual, Not Seasonally Adjusted
LFIN64TTCAA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,312,108.00
Year-over-Year Change
3.53%
Date Range
1/1/1976 - 1/1/2024
Summary
This economic trend measures the annual civilian labor force participation rate for individuals aged 64 and over in the United States. It provides insights into workforce participation and retirement trends among older adults.
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 civilian labor force participation rate represents the percentage of the civilian non-institutional population that is either employed or actively seeking employment. This metric is closely watched by economists and policymakers to understand labor market dynamics and workforce trends.
Methodology
The data is collected through the U.S. Current Population Survey, a monthly household survey conducted by the Census Bureau.
Historical Context
Trends in older adult labor force participation are relevant for understanding the impacts of population aging, retirement patterns, and labor supply.
Key Facts
- The labor force participation rate for those aged 64 and over was 19.4% in 2022.
- Participation rates have steadily increased over the past two decades as more older adults remain in the workforce.
- Factors like improved health, financial needs, and policy changes have contributed to rising older adult labor force participation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the civilian labor force participation rate for individuals aged 64 and over in the United States. It reflects the percentage of this population that is employed or actively seeking employment.
Q: Why is this trend relevant for users or analysts?
A: Trends in older adult labor force participation provide important insights into workforce dynamics, retirement patterns, and the impacts of population aging on the labor market.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Current Population Survey, a monthly household survey conducted by the Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor older adult labor force participation to understand the effects of population aging, retirement patterns, and labor supply on the economy.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Federal Reserve, with a typical update delay of several weeks. There may be some limitations in capturing all informal or gig work among older adults.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LFIN64TTCAA647N), retrieved from FRED.