Average Hourly Earnings of All Employees: Professional and Business Services in Alabama
Annual
SMU01000006000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.31
Year-over-Year Change
58.08%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual rate of change in total nonfarm employment for the United States. It is a key economic indicator used by policymakers and analysts to assess the overall health of the 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 trend represents the year-over-year percent change in total nonfarm payroll employment, which includes private-sector and government jobs. It is a widely followed measure of the economy's employment growth and a barometer for the business cycle.
Methodology
The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other policymakers to inform decisions on monetary policy and economic stimulus.
Key Facts
- The Annual trend reached a record high of 4.7% in 2021.
- Nonfarm employment accounts for around 80% of total U.S. employment.
- The Annual trend is a lagging indicator, reflecting past economic conditions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total nonfarm payroll employment, which includes private-sector and government jobs.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of the overall health of the labor market and the broader economy, making it essential for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by the Federal Reserve and other policymakers to inform decisions on monetary policy and economic stimulus.
Q: Are there update delays or limitations?
A: The Annual trend is a lagging indicator, reflecting past economic conditions, and may be subject to revisions by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual (SMU01000006000000003A), retrieved from FRED.