Average Weekly Earnings of All Employees: Private Service Providing in Maine
Annual
SMU23000000800000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,014.30
Year-over-Year Change
49.12%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total private nonfarm employment in the United States on an annual basis. This key economic indicator is closely watched by policymakers and analysts to assess the overall health of the labor market.
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 provides a comprehensive view of employment in the private nonfarm sector of the U.S. economy. It represents the total number of workers, excluding government employees and private household workers, across the country on an annualized basis.
Methodology
The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual employment trend is a crucial input for economic and policy decisions, as it reflects the strength and dynamics of the broader job market.
Key Facts
- The private nonfarm sector accounts for approximately 85% of total U.S. employment.
- Annual employment data is released on a monthly basis by the Bureau of Labor Statistics.
- The Annual trend is a seasonally adjusted measure to account for typical hiring patterns throughout the year.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of private nonfarm employees in the United States on an annualized basis.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of the overall health and strength of the U.S. labor market, which is closely monitored by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a crucial input for economic and policy decisions, as it reflects the strength and dynamics of the broader job market, which is a key consideration for the Federal Reserve and other policymakers.
Q: Are there update delays or limitations?
A: The Annual employment data is released on a monthly basis with a typical delay of around one month.
Related Trends
Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Maine
MEPCEFOOD
State Unemployment Benefits in Maine
MEOBEN
Business Applications for Maine
BUSAPPWNSAME
Total Wages and Salaries in Maine
MEWTOT
All Employees: Government: State Government Educational Services in Maine
SMU23000009092161101
Average Hourly Earnings of All Employees: Manufacturing in Maine
SMU23000003000000003A
Citation
U.S. Federal Reserve, Annual (SMU23000000800000011A), retrieved from FRED.