Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for United States
Annual, Seasonally Adjusted
LRAC64TTUSA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.92
Year-over-Year Change
2.49%
Date Range
1/1/1955 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the total labor productivity for the U.S. private nonfarm business sector. This metric is closely watched by economists and policymakers as a key indicator of economic growth and competitiveness.
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 output per hour worked, reflecting how efficiently the economy utilizes its labor resources. Analyzing productivity trends can provide insights into a nation's economic performance, international competitiveness, and potential for future growth.
Methodology
This data is calculated by the U.S. Bureau of Labor Statistics based on measures of real output and hours worked.
Historical Context
Productivity data informs decisions by the Federal Reserve, Congress, and other policymakers charged with promoting economic stability and growth.
Key Facts
- U.S. labor productivity increased by 1.7% in 2021.
- Productivity growth averaged 1.5% annually from 2010-2020.
- Weak productivity can constrain economic expansion and wage growth.
FAQs
Q: What does this economic trend measure?
A: The Annual, Seasonally Adjusted trend measures the output per hour worked in the U.S. private nonfarm business sector, a key indicator of labor productivity.
Q: Why is this trend relevant for users or analysts?
A: Productivity is a fundamental driver of economic growth, competitiveness, and living standards. Analyzing productivity trends provides insights into the efficiency and potential 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 based on measures of real output and hours worked in the private nonfarm business sector.
Q: How is this trend used in economic policy?
A: Productivity data informs decisions by the Federal Reserve, Congress, and other policymakers charged with promoting economic stability, growth, and competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRAC64TTUSA156S), retrieved from FRED.