Average Hourly Earnings of All Employees: Manufacturing in Indiana
Annual
SMU18000003000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.69
Year-over-Year Change
24.43%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures average hourly earnings of all employees in the private sector in the United States. This metric 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 Annual trend represents the annual average of hourly earnings, which reflects changes in basic pay rates as well as overtime, bonuses, and other non-wage compensation. It is a widely followed indicator of worker income and productivity trends.
Methodology
This data is collected through the Current Employment Statistics (CES) survey, a monthly establishment survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Annual earnings data is used by policymakers, analysts, and businesses to gauge the health of the U.S. labor market and consumer spending power.
Key Facts
- The annual average hourly earnings reached $31.58 in 2022.
- Earnings have grown by over 5% per year on average since 2021.
- The annual data adjusts for seasonal variations in employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of all private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market health, wage inflation, and consumer spending power, making it valuable for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Annual earnings data is used by the Federal Reserve and other policymakers to assess labor market conditions and inflationary pressures when making monetary policy decisions.
Q: Are there update delays or limitations?
A: The annual data is published with a one-month lag and may be subject to minor revisions as more complete information becomes available.
Related Trends
Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Indiana
INFININSREALRGSP
Coefficient for Industrial Carbon Dioxide Emissions, Motor Gasoline for Indiana
EMISSCO2CMGICBINA
Gross Domestic Product: Military in Indiana
INGOVFEDMILNGSP
Number of Member Commercial Banks in Indiana
X08CBMBTIN
State Government Tax Collections, Motor Vehicle Operators Licenses in Indiana
INMVOPERTAX
Housing Inventory: Price Reduced Count Month-Over-Month in Indiana
PRIREDCOUMMIN
Citation
U.S. Federal Reserve, Annual (SMU18000003000000003A), retrieved from FRED.