Infra-Annual Labor Statistics: Unemployment Total: From 55 to 64 Years for Canada
LFUN55TTCAA647N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
176,400.00
Year-over-Year Change
-2.26%
Date Range
1/1/1976 - 1/1/2024
Summary
This economic trend measures the total unemployment rate for Canadians aged 55 to 64 years old. It provides important insights into labor market dynamics and aging workforce participation.
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 Canada measures the percentage of the labor force aged 55 to 64 that is unemployed. This key metric helps analysts and policymakers understand workforce participation and labor market trends among older Canadian workers.
Methodology
The data is collected through household labor force surveys conducted by Statistics Canada.
Historical Context
This unemployment trend is closely watched by economists and policymakers to assess the state of the Canadian labor market and inform economic and social policies.
Key Facts
- Canada's 55-64 year old unemployment rate was 5.1% in 2022.
- Unemployment among older workers declined during the COVID-19 pandemic.
- Steady employment for older Canadians is a key policy goal.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total unemployment rate for Canadians aged 55 to 64 years old, providing insights into labor market participation among older workers.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding workforce dynamics, labor shortages, and policy implications as Canada's population ages.
Q: How is this data collected or calculated?
A: The data is collected through household labor force surveys conducted by Statistics Canada.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this unemployment rate to assess the state of the Canadian labor market and inform policies related to aging, retirement, and workforce participation.
Q: Are there update delays or limitations?
A: The data is published on an infra-annual basis by Statistics Canada, with some potential for delays in availability.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Total: From 55 to 64 Years for Canada (LFUN55TTCAA647N), retrieved from FRED.