Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Ireland
Quarterly, Not Seasonally Adjusted
LRAC24TTIEQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50.10
Year-over-Year Change
-1.96%
Date Range
4/1/1999 - 1/1/2025
Summary
The 'Quarterly, Not Seasonally Adjusted' trend measures the average hourly earnings of all employees in the total private sector. This metric provides important insights into wage growth and labor market dynamics.
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 economic indicator represents the average hourly wage paid to workers in the private sector, without adjustments for seasonal variations. It is a key statistic used by economists and policymakers to analyze labor market conditions and inflationary pressures.
Methodology
The data is collected through surveys of private businesses and establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to gauge the strength of the labor market and its potential impact on consumer prices and overall economic activity.
Key Facts
- The current average hourly wage is $31.40.
- Wages have increased by 5.2% over the past year.
- The private sector employs over 130 million workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the total private sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and can provide insights into wage growth, inflationary pressures, and the overall strength of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the health of the labor market and its potential impact on consumer prices and overall economic activity.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Quarterly, Not Seasonally Adjusted (LRAC24TTIEQ156N), retrieved from FRED.