Global price of Nickel
Annual
PNICKUSDA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,815.97
Year-over-Year Change
-4.14%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States. It is a key indicator of wage growth and consumer purchasing power.
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 provides a comprehensive measure of changes in employee compensation over time. It is closely monitored by economists, policymakers, and financial analysts to assess labor market conditions and inflationary pressures.
Methodology
The data is collected through a monthly survey of private-sector establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is a vital input for the Federal Reserve's monetary policy decisions.
Key Facts
- The Annual trend reached a record high of $31.85 in December 2022.
- Annual wage growth has averaged 4.6% over the past year.
- Nominal wage growth has outpaced inflation, indicating real wage gains.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of wage growth and consumer purchasing power, making it vital for assessing labor market conditions and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of private-sector establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is a vital input for the Federal Reserve's monetary policy decisions, as it helps the central bank evaluate the strength of the labor market and inflationary pressures.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Annual (PNICKUSDA), retrieved from FRED.