Average Hourly Earnings of All Employees: Goods Producing in Illinois
Annual
SMU17000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.04
Year-over-Year Change
40.89%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual economic trend measures the annual average of monthly total private employment in the United States. It is a key indicator of overall economic activity 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 represents the average of monthly private employment figures over the course of a full calendar year. It provides a broader, more stable perspective on national employment levels compared to monthly snapshots.
Methodology
The data is collected through surveys of private employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor annual employment trends to assess the health of the labor market and guide macroeconomic policy decisions.
Key Facts
- The annual average private employment in the U.S. in 2022 was 126.1 million.
- The annual employment trend has seen steady growth since the 2008-2009 recession.
- The annual figure is less volatile than monthly employment data.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average of monthly total private employment in the United States over the course of a full calendar year.
Q: Why is this trend relevant for users or analysts?
A: The annual employment trend provides a broader, more stable perspective on the health of the labor market compared to monthly data, making it a key indicator for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor annual employment trends to assess the overall state of the labor market and guide macroeconomic policy decisions.
Q: Are there update delays or limitations?
A: The annual employment data is typically released with a lag of several months, as it is calculated from monthly survey data.
Related Trends
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Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Illinois
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Average Weekly Hours of Production Employees: Manufacturing: Durable Goods: Fabricated Metal Product Manufacturing in Illinois
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90% Confidence Interval Upper Bound of Estimate of Percent of Related Children Age 5-17 in Families in Poverty for Illinois
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Citation
U.S. Federal Reserve, Annual (SMU17000000600000003A), retrieved from FRED.