Infra-Annual Labor Statistics: Unemployment Total: From 15 to 24 Years for Australia
LFUN24TTAUQ647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
221,495.60
Year-over-Year Change
14.81%
Date Range
4/1/1978 - 1/1/2025
Summary
This economic trend measures the total unemployment rate for individuals aged 15 to 24 years in Australia. It provides valuable insights into the labor market dynamics affecting young 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: Unemployment Total: From 15 to 24 Years for Australia trend represents the share of the labor force aged 15 to 24 who are unemployed in Australia. This metric is a key indicator of labor market health and economic opportunity for young adults.
Methodology
The data is collected through regular labor force surveys conducted by the Australian Bureau of Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and labor market analysts to inform economic and social policy decisions.
Key Facts
- The average Australian youth unemployment rate in 2022 was 8.3%.
- Youth unemployment is typically higher than the overall unemployment rate.
- Addressing youth unemployment is a key policy priority in many countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total unemployment rate for individuals aged 15 to 24 years in Australia, providing insights into the labor market dynamics affecting young workers.
Q: Why is this trend relevant for users or analysts?
A: The youth unemployment rate is a crucial indicator of economic opportunity and labor market health, making this trend highly relevant for policymakers, economists, and labor market analysts.
Q: How is this data collected or calculated?
A: The data is collected through regular labor force surveys conducted by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to inform economic and social policy decisions aimed at addressing youth unemployment and promoting labor market participation.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly or quarterly basis, with some potential for minor delays in reporting.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Total: From 15 to 24 Years for Australia (LFUN24TTAUQ647S), retrieved from FRED.