Labor Compensation: Earnings: Manufacturing: Hourly for Slovak Republic
Annual
LCEAMN01SKA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.33
Year-over-Year Change
100.31%
Date Range
1/1/1993 - 1/1/2024
Summary
The Annual trend measures the annual change in total compensation per hour for non-farm business sector workers in the United States. It is a key indicator of labor costs and productivity.
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 trend tracks the year-over-year percent change in total hourly compensation, including wages, salaries, and benefits, for the non-farm business sector. It provides insight into broader labor market dynamics and inflationary pressures.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this metric to assess the health of the labor market and broader economy.
Key Facts
- The Annual trend reached a high of 5.9% in Q3 2022.
- Compensation growth has outpaced inflation in recent quarters.
- Rising labor costs can contribute to broader inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total hourly compensation, including wages, salaries, and benefits, for the non-farm business sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into broader labor market dynamics and inflationary pressures, making it a key indicator for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess the health of the labor market and broader economy, as rising labor costs can contribute to inflationary pressures.
Q: Are there update delays or limitations?
A: The Annual trend data is released quarterly by the U.S. Bureau of Labor Statistics, with a typical lag of several weeks.
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Citation
U.S. Federal Reserve, Annual (LCEAMN01SKA659S), retrieved from FRED.