Average Hourly Earnings of All Employees: Leisure and Hospitality in Alabama
Annual
SMU01000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.65
Year-over-Year Change
52.05%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual rate of change in average hourly earnings of all employees on private nonfarm payrolls in the United States. This metric provides insight into wage growth and inflationary pressures in 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
Annual tracks year-over-year changes in nominal wage levels, which are a key indicator of the strength of the labor market and potential inflationary forces in the broader economy. Economists and policymakers monitor this data to assess the health of the job market and inform monetary and fiscal policy decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in annual wage growth are closely watched by the Federal Reserve and other institutions to help guide policy on interest rates and employment goals.
Key Facts
- The annual rate of change in average hourly earnings reached a peak of 5.6% in March 2022.
- Wage growth has outpaced inflation in recent years, though the gap has narrowed.
- Annual wage growth is a key input to the Federal Reserve's dual mandate of price stability and maximum employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in average hourly earnings of all employees on private nonfarm payrolls in the United States.
Q: Why is this trend relevant for users or analysts?
A: Annual wage growth is a crucial indicator of labor market strength and inflationary pressures, providing important insights for economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in annual wage growth are closely monitored by the Federal Reserve and other institutions to help guide policy decisions on interest rates and employment goals.
Q: Are there update delays or limitations?
A: The Annual data is released monthly with a typical one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU01000007000000003A), retrieved from FRED.