Harmonised Unemployment - Monthly Rates: Aged 15-24: All Persons for the Euro Area (19 Countries)
Monthly, Not Seasonally Adjusted
LRHU24TTEZM156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.50
Year-over-Year Change
2.11%
Date Range
1/1/1995 - 1/1/2023
Summary
This economic trend measures the number of hours worked per week by production and nonsupervisory employees in the private sector. It provides insights into labor market conditions and workforce utilization.
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 monthly hours worked metric offers a snapshot of the intensity of economic activity and the overall health of the labor market. Economists and policymakers closely monitor this data to understand employment trends and gauge the performance of the U.S. economy.
Methodology
The data is collected through surveys of private-sector businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The monthly hours worked trend is a key input for analyzing labor productivity, assessing inflationary pressures, and informing monetary and fiscal policy decisions.
Key Facts
- The average number of hours worked per week was 34.5 in the latest reporting period.
- Hours worked data is released monthly by the Bureau of Labor Statistics.
- Declining hours can signal economic slowdown, while increases often accompany expansions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production and nonsupervisory employees in the private sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The monthly hours worked metric provides insights into labor market conditions, workforce utilization, and the overall health of the economy. It is a key input for analyzing labor productivity, assessing inflationary pressures, and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private-sector businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The monthly hours worked trend is used by economists, policymakers, and market analysts to gauge the performance of the U.S. economy and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly by the Bureau of Labor Statistics with a typical delay of 1-2 weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Monthly, Not Seasonally Adjusted (LRHU24TTEZM156N), retrieved from FRED.