Average Hourly Earnings of All Employees: Total Private in Arkansas
Annual
SMU05000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.65
Year-over-Year Change
54.28%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector. It is a key economic indicator that reflects changes in worker compensation and productivity.
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 is a widely-tracked measure of labor costs and economic conditions. It provides insights into the spending power and living standards of American workers, which are crucial factors for consumer demand, inflation, and monetary policy decisions.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use the Annual trend to assess the strength of the labor market and inflationary pressures in the economy.
Key Facts
- The Annual trend has increased by over 5% in the past year.
- Wages for production and nonsupervisory workers account for over 80% of total private sector employment.
- Annual wage growth is a key input for the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insights into worker compensation and productivity, which are crucial factors for consumer demand, inflation, and monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Annual trend to assess the strength of the labor market and inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical delay of several weeks.
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Citation
U.S. Federal Reserve, Annual (SMU05000000500000003A), retrieved from FRED.