Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Hawaii
Annual, Not Seasonally Adjusted
HIAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
592.60
Year-over-Year Change
10.60%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the percent change in average hourly earnings of production and nonsupervisory employees in the agriculture, forestry, fishing, and hunting industry. This metric provides insights into the wage growth and labor market dynamics within this key economic sector.
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 annual percent change in average hourly earnings for workers in the agriculture, forestry, fishing, and hunting industry. This data is used by economists and policymakers to monitor employment trends and inflationary pressures in this important part of the U.S. economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in agricultural wages are closely watched by the Federal Reserve and other institutions as indicators of overall labor market conditions and potential inflationary risks.
Key Facts
- The agriculture industry accounts for over $1 trillion in annual economic output.
- Wage growth in the agriculture sector is often seen as a leading indicator of broader labor market trends.
- Monitoring agricultural wages helps policymakers assess the health of the U.S. economy.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the percent change in average hourly earnings of production and nonsupervisory employees in the agriculture, forestry, fishing, and hunting industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in agricultural wages provide important insights into labor market dynamics and potential inflationary pressures in a key sector of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in agricultural wages are closely watched by the Federal Reserve and other institutions as indicators of overall labor market conditions and potential inflationary risks.
Q: Are there update delays or limitations?
A: The Annual, Not Seasonally Adjusted series is published with a short delay by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (HIAGRNGSP), retrieved from FRED.