Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Alabama
Annual
SMU01000004000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
876.03
Year-over-Year Change
33.43%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total annual output of goods and services produced in the United States, a key indicator of economic growth and performance.
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
Gross Domestic Product (GDP) is the most comprehensive measure of the nation's economic activity, representing the total dollar value of all goods and services produced over a year. It is a fundamental economic statistic used to assess the health and trajectory of the U.S. economy.
Methodology
GDP data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys, administrative records, and economic census information.
Historical Context
Policymakers and analysts closely monitor GDP trends to inform fiscal and monetary policy decisions.
Key Facts
- GDP reached a record high of $23.9 trillion in 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP growth averaged 2.3% per year from 2010 to 2019.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total annual output of goods and services produced in the United States, known as Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of economic health and performance, used by policymakers, businesses, and analysts to inform decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates GDP data based on surveys, administrative records, and economic census information.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor GDP trends to guide fiscal and monetary policy decisions that can impact employment, inflation, and other key economic factors.
Q: Are there update delays or limitations?
A: GDP data is released quarterly with a lag, and can be subject to revisions as more complete information becomes available.
Related Trends
Civilian Labor Force in Alabama
ALLFN
Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Alabama
SMU01000006500000003
Gross Domestic Product: Federal Civilian in Alabama
ALGOVFEDCIVNGSP
Continued Claims (Insured Unemployment) in Alabama
ALCCLAIMS
Average Weekly Hours of All Employees: Goods Producing in Alabama
SMU01000000600000002
Information Earnings in Alabama
ALEINF
Citation
U.S. Federal Reserve, Annual (SMU01000004000000011A), retrieved from FRED.