Production or Nonsupervisory Employees: Manufacturing in Maryland
Annual
SMU24000003000000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73.90
Year-over-Year Change
-7.28%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual series measures the annual average of total private employment in the United States. This key economic indicator provides insights into the overall health and growth of the U.S. 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 series represents the yearly average of total private nonfarm employment, which encompasses all jobs outside of government. This metric is widely used by economists and policymakers to analyze employment trends and gauge the strength of the broader economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in annual private employment are closely monitored by the Federal Reserve and other government agencies to inform economic and monetary policy decisions.
Key Facts
- The annual average of total private employment in the U.S. was 125.8 million in 2022.
- Private sector employment makes up approximately 85% of total U.S. nonfarm employment.
- Annual private employment has grown by an average of 1.7% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the yearly average of total private nonfarm employment in the United States, providing insights into the overall health of the labor market.
Q: Why is this trend relevant for users or analysts?
A: Changes in annual private employment are closely monitored by economists, policymakers, and businesses to assess the strength of the broader economy and inform decision-making.
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 conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other government agencies closely track changes in annual private employment to inform economic and monetary policy decisions, as it is a key indicator of the overall health of the U.S. labor market.
Q: Are there update delays or limitations?
A: The Annual series is updated annually, with the most recent data typically available several months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual (SMU24000003000000006A), retrieved from FRED.