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Monthly, Not Seasonally Adjusted
SMU17000007071200001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.00
Year-over-Year Change
2.56%
Date Range
1/1/1990 - 7/1/2025
Summary
This trend measures the monthly average hourly earnings for all employees on nonfarm payrolls in the United States. It provides insights into the overall 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 average hourly earnings series tracks changes in the typical hourly pay for workers across the U.S. economy, excluding agricultural and public sector jobs. It is a key indicator of inflationary pressures and the health of the labor market.
Methodology
The data is collected through the Current Employment Statistics survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this metric to assess employment and wage dynamics that influence broader economic conditions.
Key Facts
- The average hourly earnings reached a record high of $32.27 in January 2023.
- Wages have increased by 4.8% over the past 12 months as of January 2023.
- The data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings for all employees on nonfarm payrolls in the United States, providing insight into overall wage growth and labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings data is a key indicator of inflationary pressures and the health of the labor market, making it an important metric for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess employment and wage dynamics that influence broader economic conditions, such as inflationary pressures and the overall strength of the labor market.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with no known update delays or significant limitations.
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Citation
U.S. Federal Reserve, Monthly, Not Seasonally Adjusted (SMU17000007071200001), retrieved from FRED.