Chain-Type Quantity Index for Real GDP: All Industry Total in Alabama
Annual, Not Seasonally Adjusted
ALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.64
Year-over-Year Change
24.05%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the average hourly earnings of all private nonfarm employees in the United States. 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
The Annual, Not Seasonally Adjusted series tracks the average hourly earnings of all private nonfarm employees on an annual basis, without adjusting for seasonal factors. This provides insight into broader trends in worker compensation over time.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Historical Context
This wage metric is closely monitored by policymakers, economists, and market analysts to assess economic performance and guide fiscal and monetary policy decisions.
Key Facts
- The annual average hourly wage was $31.38 in 2022.
- Wage growth slowed to 4.8% in 2022 compared to 5.9% in 2021.
- Manufacturing workers earned an average of $29.58 per hour in 2022.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the average hourly earnings of all private nonfarm employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This wage metric is a key indicator of labor market conditions and the pace of worker compensation growth, which is closely watched by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this wage trend to assess inflationary pressures and guide decisions on fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The Annual, Not Seasonally Adjusted series is published with a 1-month lag, and may be subject to revisions as more data becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ALQGSP), retrieved from FRED.