All Employees: Leisure and Hospitality in Connecticut
Annual, Not Seasonally Adjusted
SMU09000007000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
154.50
Year-over-Year Change
8.65%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the annual average of not seasonally adjusted wages and salaries for the total private sector in the United States. It provides important insights into the overall state of the labor market and workforce compensation.
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, Not Seasonally Adjusted series represents the average annual wages and salaries earned by workers in the private sector. This metric is a key indicator of economic performance and living standards, as it reflects the purchasing power and financial well-being of American households.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Historical Context
Policymakers and economists use this trend to evaluate economic growth, the strength of consumer demand, and the appropriateness of monetary and fiscal policies.
Key Facts
- The annual average private sector wage in the U.S. was $63,974 in 2021.
- Wages grew by 4.7% from 2020 to 2021, reflecting a strong labor market recovery.
- Private sector wages account for over two-thirds of total U.S. employee compensation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average annual wages and salaries earned by workers in the private sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall state of the labor market and household financial well-being, which are crucial for evaluating economic performance and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess economic growth, consumer demand, and the appropriateness of monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU09000007000000001A), retrieved from FRED.