Labor Compensation: Wage Rate: All Activities: Hourly for Australia
Annual
LCWRTT01AUA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.00
Year-over-Year Change
34.42%
Date Range
1/1/1977 - 1/1/2022
Summary
The Annual trend measures the annual rate of change in the labor compensation of workers in the U.S. This metric provides insight into wage growth and inflationary pressures.
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 percentage change in labor compensation, which includes wages, salaries, and benefits. It is a key indicator of overall labor market conditions and labor cost pressures within the economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on surveys of employers.
Historical Context
Policymakers and analysts monitor this trend to assess the strength of the labor market and inflationary risks.
Key Facts
- Annual labor compensation growth was 5.3% as of the latest data.
- Wage pressures are a key focus for the Federal Reserve's monetary policy decisions.
- Tracking annual labor compensation helps assess the overall health of the job market.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percentage change in total labor compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth and labor cost pressures, which are key factors in assessing overall economic conditions and the strength of the job market.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on surveys of employers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess inflationary risks and the strength of the labor market, which informs monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released on a quarterly basis, with a lag of several weeks.
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Citation
U.S. Federal Reserve, Annual (LCWRTT01AUA661N), retrieved from FRED.