All Employees: Goods Producing in Maine
Annual, Not Seasonally Adjusted
SMU23000000600000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.10
Year-over-Year Change
13.07%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures annual, not seasonally adjusted data on the average hourly earnings of production and nonsupervisory employees in the private sector. It provides key insights into wage growth and labor market dynamics.
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, Not Seasonally Adjusted series tracks changes in average hourly pay for production and nonsupervisory workers across the U.S. private sector. Economists and policymakers analyze this data to gauge inflationary pressures and the overall health of the labor market.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Historical Context
This trend is a crucial input for the Federal Reserve and other institutions in setting monetary policy and assessing the economic outlook.
Key Facts
- Annual wage growth averaged 4.9% in 2022.
- Production and nonsupervisory roles make up over 80% of private sector employment.
- Real wage growth has lagged behind inflation in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the U.S. private sector on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This data provides crucial insights into wage growth and labor market dynamics, which are key indicators of inflationary pressures and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions rely on this data to inform monetary policy decisions and assess the economic outlook.
Q: Are there update delays or limitations?
A: The data is released monthly with a one-month lag, and is not seasonally adjusted.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU23000000600000001A), retrieved from FRED.