Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Estonia
Annual, Not Seasonally Adjusted
LRAC24TTEEA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.75
Year-over-Year Change
6.64%
Date Range
1/1/2000 - 1/1/2024
Summary
This economic trend measures the annual, not seasonally adjusted labor compensation per hour in the total economy. It provides insights into labor productivity and is a key indicator of economic conditions.
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 annual, not seasonally adjusted labor compensation per hour in the total economy tracks the average hourly earnings of workers, including wages, salaries, and benefits. This metric is used by economists and policymakers to analyze workforce productivity and overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of employers.
Historical Context
Policymakers and analysts use this metric to inform decisions on employment, wages, and economic policy.
Key Facts
- The average hourly labor compensation in the U.S. total economy was $31.47 in 2022.
- Labor compensation has grown by over 5% annually since 2021.
- Productivity gains have outpaced compensation growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor compensation, including wages, salaries, and benefits, for workers in the total U.S. economy on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into workforce productivity and overall economic conditions, which are key considerations for economic policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of employers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to inform decisions on employment, wages, and broader economic policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRAC24TTEEA156N), retrieved from FRED.