Average Hourly Earnings of Production Employees: Manufacturing in Delaware
Annual
SMU10000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.25
Year-over-Year Change
79.59%
Date Range
1/1/2006 - 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 indicator of wage growth and labor market conditions.
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 measure of changes in the compensation levels of U.S. workers. It is a widely tracked economic indicator used to gauge inflationary pressures and inform policy decisions.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other policymakers to assess the health of the labor market and broader economy.
Key Facts
- The Annual trend reached a record high of $31.31 in January 2023.
- Wage growth has outpaced inflation in recent months, indicating tightness in the labor market.
- The Annual trend is a component of the broader Employment Cost Index (ECI) released by the BLS.
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, providing insight into wage growth and labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator used by economists, policymakers, and market participants to assess inflationary pressures and the overall health of the labor market.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by the Federal Reserve and other policymakers to inform decisions on monetary policy and assess the broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU10000003000000008A), retrieved from FRED.