Average Hourly Earnings of All Employees: Leisure and Hospitality in Louisiana
Annual
SMU22000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.74
Year-over-Year Change
36.99%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual change in total private nonfarm employment in the United States. It is a key indicator of the overall health and growth of the U.S. economy.
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 percentage change in total private nonfarm employment, which accounts for the majority of the U.S. workforce. It is widely used by economists, policymakers, and investors to assess the strength and direction of the labor market and broader economic conditions.
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 provides important context for Federal Reserve monetary policy decisions and market analysis of economic performance.
Key Facts
- The Annual trend reached a high of 3.8% in 2021 as the economy recovered from the COVID-19 pandemic.
- Private nonfarm employment accounts for approximately 85% of total U.S. employment.
- The Annual trend has averaged around 1.5% over the past 20 years.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percentage change in total private nonfarm employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of the overall health and growth of the U.S. economy, providing important context for monetary policy decisions and market analysis.
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 the Federal Reserve and other policymakers to assess the strength of the labor market and guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Annual (SMU22000007000000003A), retrieved from FRED.