Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 55 to 64 Years for United States
Annual, Not Seasonally Adjusted
LRAC55TTUSA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.91
Year-over-Year Change
2.20%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic trend measures annual labor productivity in the U.S. non-farm business sector, an important indicator of economic growth and efficiency.
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
Labor productivity tracks the real output per hour worked, providing insights into a country's productive capacity and competitiveness. Policymakers and economists closely monitor this metric to assess the overall health of the economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and hours worked statistics.
Historical Context
Productivity growth is a key driver of rising living standards over the long-term.
Key Facts
- U.S. labor productivity has grown at an average annual rate of 1.6% since 1947.
- Increasing productivity is crucial for raising living standards over time.
- Productivity growth slowed in the 2000s compared to previous decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures annual labor productivity in the U.S. non-farm business sector, which is the real output per hour worked.
Q: Why is this trend relevant for users or analysts?
A: Productivity growth is a key driver of rising living standards and economic competitiveness, making this metric crucial for policymakers and economists.
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 this productivity metric to assess the overall health and growth potential of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is published annually without seasonal adjustments, so there may be delays in the most recent year's figures.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRAC55TTUSA156N), retrieved from FRED.