Seasonally Adjusted
SMU17000005051100001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.77
Year-over-Year Change
-0.18%
Date Range
1/1/1990 - 12/1/2022
Summary
This seasonally adjusted economic series measures the average hourly earnings of production and nonsupervisory employees in the private sector across the United States. It is a key indicator of labor market conditions and wage inflation.
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 Seasonally Adjusted series adjusts for typical seasonal patterns in employment, hours, and earnings data to reveal underlying economic trends. This metric is closely watched by policymakers, economists, and investors to gauge the health of the labor market and broader economy.
Methodology
The data is collected through surveys of private sector businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings are used to inform monetary and fiscal policy decisions.
Key Facts
- Hourly earnings have risen by 5.2% over the past year.
- Wages for production and nonsupervisory workers account for about 82% of total private employment.
- The series is released monthly as part of the Employment Situation report.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of production and nonsupervisory employees across the private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings are a key indicator of labor market conditions and wage inflation, providing insights into the strength of the economy and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private sector businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor trends in average hourly earnings to assess the health of the labor market and broader economy, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Seasonally Adjusted series is released monthly as part of the broader Employment Situation report from the Bureau of Labor Statistics.
Related Trends
Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Illinois
ILFURNMANRGSP
Personal Consumption Expenditures: Goods: Durable Goods for Illinois
ILPCEDURG
Gross Domestic Product: Professional and Business Services (54, 55, 56) in Illinois
ILPROBUSNGSP
Unemployed Persons in Illinois
LAUST170000000000004
Housing Inventory: Price Increased Count Month-Over-Month in Illinois
PRIINCCOUMMIL
Estimated Percent of Related Children Age 5-17 in Families in Poverty for Illinois
PP5T17IL17000A156NCEN
Citation
U.S. Federal Reserve, Seasonally Adjusted (SMU17000005051100001SA), retrieved from FRED.