Production or Nonsupervisory Employees: Mining, Logging, and Construction in Hawaii
Annual, Not Seasonally Adjusted
SMU15000001500000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.20
Year-over-Year Change
35.81%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures annual, not seasonally adjusted wages and salaries in the private sector for the United States. It provides insights into the growth and composition of private-sector labor 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 private-sector wages and salaries trend tracks changes in total employee compensation, including wages, salaries, bonuses, and other pay, over a 12-month period without seasonal adjustments. This metric is used by economists and policymakers to assess the health of the labor market and consumer spending power.
Methodology
The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend informs analysis of employment, inflation, and economic growth by federal agencies, financial institutions, and private-sector analysts.
Key Facts
- Private-sector wages and salaries account for over two-thirds of total personal income in the U.S.
- Wage growth has averaged around 3-4% annually over the past decade.
- The COVID-19 pandemic led to a sharp decline in private-sector wages in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures annual changes in private-sector wages, salaries, and other compensation in the United States, without seasonal adjustments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall health of the labor market and consumer spending power, which are critical factors for understanding broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend informs analysis of employment, inflation, and economic growth by federal agencies, financial institutions, and private-sector analysts.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of several weeks, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU15000001500000006A), retrieved from FRED.