Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 74 Years for Luxembourg
LRUN74TTLUA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.43
Year-over-Year Change
24.76%
Date Range
1/1/1998 - 1/1/2024
Summary
The Unemployment Rate Total: From 15 to 74 Years for Luxembourg measures the percentage of the labor force aged 15 to 74 that is without work. This key economic indicator provides insight into the overall health of the Luxembourgish 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
This monthly series, published by the U.S. Federal Reserve, tracks the unemployment rate for the working-age population in Luxembourg. It is a widely followed metric used by economists, policymakers, and market analysts to assess employment trends and evaluate the strength of the Luxembourgish economy.
Methodology
The data is collected through household surveys conducted by the national statistical agency.
Historical Context
The unemployment rate is a crucial input for economic policy decisions and market analysis in Luxembourg.
Key Facts
- Luxembourg has one of the lowest unemployment rates in the EU.
- The unemployment rate peaked at 6.9% during the 2008-2009 financial crisis.
- Youth unemployment remains a challenge in Luxembourg compared to the overall rate.
FAQs
Q: What does this economic trend measure?
A: The Unemployment Rate Total: From 15 to 74 Years for Luxembourg measures the percentage of the labor force aged 15 to 74 that is without work in the country.
Q: Why is this trend relevant for users or analysts?
A: The unemployment rate is a key indicator of the health of the Luxembourgish labor market and overall economic conditions. It is closely monitored by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the national statistical agency in Luxembourg.
Q: How is this trend used in economic policy?
A: The unemployment rate is a crucial input for economic policy decisions in Luxembourg, as it helps inform labor market interventions and broader macroeconomic strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 4-6 weeks. There may be revisions to previous months' figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 74 Years for Luxembourg (LRUN74TTLUA156N), retrieved from FRED.