Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for Norway
Quarterly, Not Seasonally Adjusted
LRAC64TTNOQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79.70
Year-over-Year Change
-0.37%
Date Range
4/1/1999 - 1/1/2025
Summary
The 'Quarterly, Not Seasonally Adjusted' trend measures the average hourly earnings of production and nonsupervisory employees in the leisure and hospitality sector. This metric provides insight into wage trends and labor market dynamics in a key economic sector.
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 tracks changes in nominal hourly wages for production and nonsupervisory workers in the leisure and hospitality industry, which includes businesses like hotels, restaurants, and entertainment venues. Economists and policymakers monitor this data to assess labor market conditions and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This wage trend is relevant for understanding consumer spending, inflation, and the overall health of the services sector.
Key Facts
- The leisure and hospitality sector accounts for over 17 million U.S. jobs.
- Wages in this sector tend to be lower than the national average.
- Hourly earnings growth has fluctuated significantly during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the leisure and hospitality sector, which includes businesses like hotels, restaurants, and entertainment venues.
Q: Why is this trend relevant for users or analysts?
A: This wage data provides insight into labor market dynamics and inflationary pressures in a key economic sector, which is important for understanding consumer spending, employment, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this wage trend to assess labor market conditions and inflationary pressures, which can inform decisions around monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Quarterly, Not Seasonally Adjusted (LRAC64TTNOQ156N), retrieved from FRED.