Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Finland
Annual, Not Seasonally Adjusted
LRAC24TTFIA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53.28
Year-over-Year Change
4.31%
Date Range
1/1/1998 - 1/1/2024
Summary
This trend measures the annual, not seasonally adjusted total labor costs per hour for the civilian economy in the United States. It provides insights into labor market conditions and inflationary pressures.
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 total labor costs per hour represents the total compensation, including wages and benefits, paid to workers in the civilian economy. It is a key indicator used by economists and policymakers to analyze labor market dynamics and inflationary trends.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Employment Cost Index survey.
Historical Context
This metric helps inform Federal Reserve and government economic policies.
Key Facts
- Annual labor costs per hour reached a high of $35.65 in 2022.
- Labor costs have risen by over 20% in the past decade.
- The annual labor cost index is a key input for the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor costs per hour, including wages and benefits, for the overall civilian economy in the United States on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and inflationary pressures, which are crucial for economic policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Employment Cost Index survey.
Q: How is this trend used in economic policy?
A: The annual labor cost index is a key input for the Federal Reserve's monetary policy decisions, as it helps assess inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRAC24TTFIA156N), retrieved from FRED.