Average Hourly Earnings of All Employees: Private Service Providing in Arkansas
Annual
SMU05000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.93
Year-over-Year Change
55.71%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual growth rate of private sector employment in the United States. It is a key economic indicator used by policymakers and analysts to assess labor market conditions and broader economic 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
The Annual trend tracks changes in the total number of private sector jobs in the U.S. economy on a year-over-year basis. It provides insight into the pace of job creation and labor market dynamics, which are crucial factors for understanding overall economic growth and the health of businesses.
Methodology
The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is widely referenced by the Federal Reserve, economists, and financial markets to gauge the strength of the U.S. economy and inform policy decisions.
Key Facts
- The Annual trend reached a high of 2.8% in 2015.
- In 2020, the Annual trend declined by 5.7% due to the COVID-19 pandemic.
- The trend has averaged 1.6% annual growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in the total number of private sector jobs in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market and broader economic conditions, providing insight into the pace of job creation and the health of businesses.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is widely referenced by the Federal Reserve, economists, and financial markets to gauge the strength of the U.S. economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a relatively short delay, allowing for timely analysis of labor market conditions.
Related Trends
Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Arkansas
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Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Arkansas
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Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Arkansas
ARPRIGOODPROQGSP
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Citation
U.S. Federal Reserve, Annual (SMU05000000800000003A), retrieved from FRED.