Average Hourly Earnings of Production Employees: Retail Trade in Indiana
Annual
SMU18000004200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.57
Year-over-Year Change
58.31%
Date Range
1/1/2003 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in total wages and salaries for the United States. This metric is a key indicator of economic growth and consumer spending power.
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 percent change in total wages and salaries paid to employees on an annual basis. It is a broad measure of worker compensation and labor market conditions, providing insight into the overall strength of the U.S. economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by policymakers, economists, and investors to assess the health of the labor market and consumer demand.
Key Facts
- Annual wages and salaries grew by 5.2% in 2022.
- The trend reached a low of -1.7% during the COVID-19 pandemic in 2020.
- Annual wage growth has averaged 3.5% over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total wages and salaries paid to employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions and consumer spending power, providing insight into the overall strength of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by policymakers, economists, and investors to assess the health of the labor market and consumer demand.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU18000004200000008A), retrieved from FRED.