Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 74 Years for Austria
LRAC74TTATQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.70
Year-over-Year Change
0.59%
Date Range
1/1/1998 - 1/1/2025
Summary
The Labor Force Participation Rate measures the percentage of the working-age population that is employed or actively seeking work in Austria. It serves as a key indicator of the strength and utilization of the Austrian labor market.
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
The Labor Force Participation Rate Total: From 15 to 74 Years represents the proportion of the Austrian population aged 15 to 74 that is either employed or unemployed but actively seeking work. It is a widely-used metric for assessing the overall health and engagement of the working-age population in the Austrian economy.
Methodology
This data is collected through national labor force surveys conducted by Statistics Austria.
Historical Context
Policymakers and economists closely monitor the labor force participation rate to gauge economic activity and make informed decisions.
Key Facts
- Austria's labor force participation rate averaged 74.8% from 2010-2020.
- The rate reached a high of 76.2% in 2019 before declining during the COVID-19 pandemic.
- Women's labor force participation in Austria is lower than men's, at 71.4% vs. 78.2% in 2020.
FAQs
Q: What does this economic trend measure?
A: The Labor Force Participation Rate measures the percentage of the working-age population in Austria that is employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key indicator of the strength and utilization of the Austrian labor market, providing insight into economic activity and the potential for growth.
Q: How is this data collected or calculated?
A: This data is collected through national labor force surveys conducted by Statistics Austria.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the labor force participation rate to gauge economic activity and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but may be subject to revisions or delays due to the survey-based nature of the collection process.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 74 Years for Austria (LRAC74TTATQ156N), retrieved from FRED.