Average Hourly Earnings of All Employees: Manufacturing in Connecticut
Annual
SMU09000003000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.58
Year-over-Year Change
22.93%
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 provides insight into the overall state of the U.S. labor market and wage growth.
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 average hourly wage rate across the U.S. private sector. It is a key metric used by economists and policymakers to assess employment conditions, inflationary pressures, and the purchasing power of workers.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in the Annual trend are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- The Annual trend has increased by 5.5% over the past year.
- Wages for production and nonsupervisory workers account for over 80% of total private employment.
- The Federal Reserve considers the Annual trend a key indicator of inflationary pressures in the economy.
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 insight into the overall state of the U.S. labor market and wage growth, which are important factors for economists and policymakers.
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: Changes in the Annual trend are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a typical one-month delay.
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Citation
U.S. Federal Reserve, Annual (SMU09000003000000003A), retrieved from FRED.