Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 24 Years for Sweden
Annual, Seasonally Adjusted
LRAC24TTSEA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56.83
Year-over-Year Change
7.78%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the annual change in unit labor costs, which are a key indicator of 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
Unit labor costs represent the average cost of labor per unit of output, and are calculated as the ratio of total labor compensation to real output. This metric is widely used by economists and policymakers to analyze productivity, inflation, and the health of the overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in unit labor costs can inform Federal Reserve monetary policy decisions and business investment strategies.
Key Facts
- Unit labor costs rose by 6.1% in 2022.
- This was the largest annual increase since 1982.
- Rising labor costs can contribute to higher consumer prices.
FAQs
Q: What does this economic trend measure?
A: The Annual, Seasonally Adjusted trend measures the year-over-year change in unit labor costs, which represent the average cost of labor per unit of output produced.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of labor market conditions and inflationary pressures, providing insights into productivity, wage growth, and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Changes in unit labor costs can inform Federal Reserve monetary policy decisions and business investment strategies, as they provide insights into potential inflationary pressures.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Bureau of Labor Statistics, with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRAC24TTSEA156S), retrieved from FRED.