Average Hourly Earnings of Production Employees: Manufacturing in Connecticut
Annual
SMU09000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.38
Year-over-Year Change
30.75%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average annual total compensation per job, including wages, salaries, and supplements, for all employees in the United States. This metric is a key indicator of economic conditions and worker well-being.
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 provides a comprehensive view of total employee compensation, offering insights into productivity, cost of living, and labor market dynamics. Economists and policymakers closely monitor this data to assess the health of the broader economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through a nationwide survey of employers.
Historical Context
Trends in annual compensation help inform decisions around economic and labor policies.
Key Facts
- The annual average compensation per job in the U.S. was $71,456 in 2022.
- Compensation has grown by an average of 3.2% per year over the past decade.
- Wages and salaries account for approximately 70% of total compensation.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual total compensation per job, including wages, salaries, and supplements, for all employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic conditions and worker well-being, providing insights into productivity, cost of living, and labor market dynamics.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through a nationwide survey of employers.
Q: How is this trend used in economic policy?
A: Trends in annual compensation help inform decisions around economic and labor policies.
Q: Are there update delays or limitations?
A: The Annual data is published on a regular schedule with minimal delays, providing a timely and comprehensive view of employee compensation.
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Citation
U.S. Federal Reserve, Annual (SMU09000003000000008A), retrieved from FRED.