Average Hourly Earnings of Production Employees: Mining and Logging in Louisiana
Annual
SMU22000001000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.34
Year-over-Year Change
17.69%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual growth rate of total employment for all workers in the U.S. It provides a high-level view of the pace of job creation 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 tracks the year-over-year percent change in total nonfarm employment on an annual basis. It is a key indicator of the overall health and direction of the U.S. labor market, used by economists, policymakers, and businesses to assess the strength of the economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
The Annual employment trend is closely watched by the Federal Reserve and other policymakers to inform decisions on monetary and fiscal policy.
Key Facts
- The U.S. annual employment growth rate averaged 1.5% from 2010-2019.
- Employment declined by 5.8% in 2020 due to the COVID-19 pandemic.
- The 2021 annual employment growth rate was 4.3%, indicating a recovery.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total nonfarm employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of the overall health and direction of the U.S. labor market, used by economists, policymakers, and businesses to assess the strength of the economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: The Annual employment trend is closely watched by the Federal Reserve and other policymakers to inform decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Annual employment data is updated monthly with a one-month lag, so the most recent data point reflects the prior 12-month period.
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Citation
U.S. Federal Reserve, Annual (SMU22000001000000008A), retrieved from FRED.