Infra-Annual Labor Statistics: Unemployment Total: From 55 to 64 Years for Australia
LFUN55TTAUA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65,372.28
Year-over-Year Change
14.78%
Date Range
1/1/1979 - 1/1/2024
Summary
This economic trend measures the total unemployment rate for individuals aged 55 to 64 years in Australia. It provides valuable insights into the labor force participation and job market dynamics within this specific 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: Unemployment Total: From 55 to 64 Years for Australia is a key indicator used by economists and policymakers to assess the employment status and labor market trends among older workers in the country. It offers a more granular view of the labor force compared to broader unemployment measures.
Methodology
The data is collected through household surveys conducted by the Australian Bureau of Statistics.
Historical Context
This trend is closely monitored by government agencies, labor organizations, and economic analysts to inform policies and programs aimed at promoting workforce participation and addressing employment challenges faced by older workers.
Key Facts
- The average unemployment rate for Australians aged 55-64 is around 3.5%.
- Older workers often face unique challenges in the job market, such as age discrimination and skill obsolescence.
- Policies that support the employment of older workers can help address labor shortages and promote economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total unemployment rate for individuals aged 55 to 64 years in Australia, providing insights into the labor force participation and job market dynamics within this specific demographic.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely monitored by economists, policymakers, and labor organizations to assess the employment status and challenges faced by older workers, which can inform policies and programs aimed at promoting workforce participation and addressing employment issues in this demographic.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by government agencies, labor organizations, and economic analysts to inform policies and programs aimed at promoting workforce participation and addressing employment challenges faced by older workers in Australia.
Q: Are there update delays or limitations?
A: The data is released on a regular basis by the Australian Bureau of Statistics, but there may be occasional delays or limitations in data availability depending on survey schedules and methodological changes.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Total: From 55 to 64 Years for Australia (LFUN55TTAUA647N), retrieved from FRED.