Average Weekly Hours of All Employees: Total Private in Maryland
Annual
SMU24000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.30
Year-over-Year Change
-2.06%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector on an annual basis. This metric is a key indicator of wage growth 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 average hourly earnings for private-sector production and nonsupervisory workers in the United States. It is a widely used barometer of worker compensation and an important input for policymakers and economists analyzing employment dynamics and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in annual earnings help inform monetary policy decisions and provide insight into the broader economic climate.
Key Facts
- Annual earnings reached a record high in 2022.
- Wage growth has outpaced inflation in recent years.
- The Annual trend is considered a leading indicator of consumer spending power.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of wage growth and labor market conditions, providing important insights for policymakers, economists, and businesses.
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: Trends in annual earnings help inform monetary policy decisions and provide insight into the broader economic climate.
Q: Are there update delays or limitations?
A: The Annual trend data is released on a monthly basis, with a typical publication delay of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU24000000500000002A), retrieved from FRED.