Average Hourly Earnings of Production Employees: Manufacturing in Alabama
Annual
SMU01000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.50
Year-over-Year Change
33.81%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average number of paid holidays and leave per year for private non-farm business employees in the United States. It is an important indicator of employee benefits and work-life balance.
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 represents the average number of paid holidays, vacation days, and other leave time provided to private non-farm workers annually. It is a key statistic used by economists, policymakers, and HR professionals to analyze trends in employee compensation and workforce policies.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' National Compensation Survey.
Historical Context
Trends in annual leave can inform discussions around labor regulations, competitiveness, and workforce retention.
Key Facts
- The average annual leave has increased from 17.3 days in 1993 to 18.3 days in 2022.
- Paid leave is an important non-wage benefit that affects worker recruitment and retention.
- Trends in annual leave reflect evolving workforce policies and norms.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of paid holidays, vacation days, and other leave time provided to private non-farm employees in the United States each year.
Q: Why is this trend relevant for users or analysts?
A: Trends in annual leave are important indicators of employee compensation, work-life balance, and workforce policies that can inform economic and HR decision-making.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' National Compensation Survey.
Q: How is this trend used in economic policy?
A: Trends in annual leave can inform discussions around labor regulations, workforce competitiveness, and policies affecting employee retention and wellbeing.
Q: Are there update delays or limitations?
A: The Annual data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Annual (SMU01000003000000008A), retrieved from FRED.