Infra-Annual Labor Statistics: Labor Force Participation Rate Female: From 15 to 24 Years for Finland
Annual, Seasonally Adjusted
LRAC24FEFIA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.38
Year-over-Year Change
7.78%
Date Range
1/1/1998 - 1/1/2024
Summary
The 'Annual, Seasonally Adjusted' trend measures total labor productivity, calculating the ratio of real output to hours worked. This metric is a key indicator of economic efficiency and competitiveness.
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
This labor productivity statistic represents the amount of real economic output produced per hour of labor input. It is a crucial measure of an economy's capacity for growth, as increases in productivity drive higher living standards over the long term.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and labor hour data from various economic surveys.
Historical Context
Policymakers and analysts closely monitor labor productivity trends to assess an economy's competitive position and prospects for future prosperity.
Key Facts
- Labor productivity has doubled since the 1970s.
- The U.S. has one of the highest productivity levels globally.
- Gains in productivity are a key driver of rising living standards.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total output produced per hour of labor input, providing a key indicator of an economy's productive efficiency.
Q: Why is this trend relevant for users or analysts?
A: Productivity growth is essential for increasing living standards over time, so this metric is closely watched by policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The Bureau of Labor Statistics calculates this measure using production data and labor hour inputs from various economic surveys.
Q: How is this trend used in economic policy?
A: Policymakers analyze labor productivity to assess an economy's competitiveness and long-term growth potential, informing decisions on issues like investment, trade, and workforce development.
Q: Are there update delays or limitations?
A: This data series is updated quarterly with a short lag, providing timely insights into productivity trends. However, the underlying survey data may have some inherent sampling or reporting limitations.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRAC24FEFIA156S), retrieved from FRED.