Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for Canada
Annual, Seasonally Adjusted
LRHU24MACAA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.25
Year-over-Year Change
-9.48%
Date Range
1/1/1976 - 1/1/2024
Summary
The Annual, Seasonally Adjusted trend measures the average hourly earnings of production and nonsupervisory employees in the leisure and hospitality sector. This metric is a key indicator of wage growth and labor market conditions.
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 the average hourly wage for workers in the leisure and hospitality industry, which includes jobs in restaurants, hotels, and entertainment. It provides insight into broader labor market trends and can inform policy decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses.
Historical Context
Policymakers and economists closely monitor this trend to assess the strength of the labor market and inflationary pressures.
Key Facts
- The leisure and hospitality sector accounts for over 15% of total U.S. employment.
- Wages in this sector have historically trailed the overall private sector average.
- Rapid wage growth in leisure and hospitality can signal tight labor market conditions.
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, providing insight into wage growth in this industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and can inform policy decisions, as wages in the leisure and hospitality sector often lead broader trends in the labor market.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the strength of the labor market and inflationary pressures, as it provides insight into wage growth in a major sector of the economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
Related Trends
Nominal Exports of Goods and Services for Canada
NXSAXDCCAQ
Compensation of Employees in Canada
CANCOMPQDSNAQ
International Merchandise Trade Statistics: Exports: Commodities for Canada
XTEXVA01CAM667S
Production: Industry: Total Industry Excluding Construction for Canada
PRINTO01CAA189N
Bank Regulatory Capital to Risk-Weighted Assets for Canada
DDSI05CAA156NWDB
Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Manufacturing for Canada
PRMNTO01CAQ661N
Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRHU24MACAA156S), retrieved from FRED.