Average Weekly Earnings of Production Employees: Trade, Transportation, and Utilities in Hawaii
Annual
SMU15000004000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,115.32
Year-over-Year Change
74.95%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual change in average hourly earnings for all employees on private nonfarm payrolls in the United States. This provides insight into wage growth and inflationary pressures in the broader economy.
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 tracks the year-over-year percentage change in average hourly earnings, a key indicator of labor market conditions and wage inflation. Economists closely monitor this metric to assess the strength of the U.S. economy and inform monetary policy decisions.
Methodology
The data is collected through the Bureau of Labor Statistics' Current Employment Statistics survey of private businesses.
Historical Context
Policymakers and market analysts use the Annual trend to gauge the pace of wage growth and its potential impact on consumer prices and the Federal Reserve's interest rate policies.
Key Facts
- The annual change in average hourly earnings hit a high of 5.6% in March 2022.
- Wages have increased faster than inflation for much of the past year.
- Sustained high wage growth can contribute to broader inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percentage change in average hourly earnings for all employees on private nonfarm payrolls in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into the strength of the labor market and the pace of wage inflation, which are key factors in the Federal Reserve's monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Labor Statistics' monthly Current Employment Statistics survey of private businesses.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use the Annual trend to gauge the pace of wage growth and its potential impact on consumer prices and the Federal Reserve's interest rate policies.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a typical release lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU15000004000000030A), retrieved from FRED.