Average Weekly Earnings of All Employees: Construction in Alabama
Annual
SMU01000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,333.00
Year-over-Year Change
63.83%
Date Range
1/1/2007 - 1/1/2024
Summary
This series measures the annual average of total nonfarm employment in the United States. It is a key economic indicator used to assess the overall health and growth of the US labor market.
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 Total Nonfarm Employment series tracks the total number of people employed in the United States, excluding farm workers, government employees, private household workers, and employees of nonprofit organizations. It is a widely-followed metric that provides insight into the strength and trajectory of the broader economy.
Methodology
The data is collected through monthly surveys of businesses and government agencies by the US Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by policymakers, economists, and market analysts to inform economic and monetary policy decisions.
Key Facts
- Nonfarm employment accounts for over 80% of total US employment.
- Employment levels are a key indicator of economic growth and consumer confidence.
- The US economy added over 6 million nonfarm jobs in 2022.
FAQs
Q: What does this economic trend measure?
A: This series tracks the annual average of total nonfarm employment in the United States, a key indicator of the overall strength of the labor market and broader economy.
Q: Why is this trend relevant for users or analysts?
A: Employment levels are closely watched by policymakers, economists, and investors as they provide insight into economic growth, consumer spending, and the direction of monetary policy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and government agencies by the US Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Changes in nonfarm employment are a major consideration for the Federal Reserve in setting monetary policy and can influence decisions on interest rates and other economic measures.
Q: Are there update delays or limitations?
A: The annual nonfarm employment data is released with a short lag, typically within a month after the end of the calendar year. The data may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Annual Total Nonfarm Employment (SMU01000002000000011A), retrieved from FRED.