Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 55 to 64 Years for Austria
Quarterly, Not Seasonally Adjusted
LRAC55TTATQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.00
Year-over-Year Change
5.62%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Quarterly, Not Seasonally Adjusted' economic trend measures nonfarm labor productivity, a key indicator of economic efficiency and growth potential.
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 quarterly measure of labor productivity tracks changes in the inflation-adjusted output produced per hour of work in the nonfarm business sector. It is a closely watched metric for analyzing productivity, wage, and inflationary trends.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and hours worked statistics.
Historical Context
Nonfarm labor productivity is a critical input for policymakers and analysts assessing the underlying health and potential growth of the U.S. economy.
Key Facts
- Productivity rose 1.9% in Q3 2022 compared to the prior quarter.
- Productivity increased 1.4% year-over-year in Q3 2022.
- The Q3 2022 productivity level was 105.4% of the 2017 annual average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks changes in the output produced per hour of labor in the nonfarm business sector, a key indicator of economic efficiency and growth potential.
Q: Why is this trend relevant for users or analysts?
A: Nonfarm labor productivity is a critical input for policymakers and analysts assessing the underlying health and potential growth of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and hours worked statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor nonfarm labor productivity to gauge the economy's efficiency, wage and inflationary pressures, and growth potential.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so the most recent quarter's figures may not be available immediately.
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Citation
U.S. Federal Reserve, Quarterly, Not Seasonally Adjusted (LRAC55TTATQ156N), retrieved from FRED.