Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Maryland
Annual
SMU24000003200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.07
Year-over-Year Change
38.56%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average number of employees per day in the private sector over a 12-month period. This indicator provides insight into broader labor market conditions and helps economists and policymakers assess the health 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 represents the average number of employees per day in the private sector over a 12-month period. This metric is used to track long-term changes in employment levels and is a key indicator of economic activity and labor market strength.
Methodology
The data is collected through surveys of private businesses and establishments.
Historical Context
The Annual trend is closely monitored by policymakers, analysts, and investors to understand broader macroeconomic trends and inform decision-making.
Key Facts
- The Annual trend reached a peak of 115.9 million employees in 2019.
- Employment levels declined sharply during the COVID-19 pandemic in 2020.
- The Annual trend has shown steady recovery since the economic downturn.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of employees per day in the private sector over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into broader labor market conditions and helps economists and policymakers assess the health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by policymakers, analysts, and investors to understand broader macroeconomic trends and inform decision-making.
Q: Are there update delays or limitations?
A: The Annual trend data is updated monthly with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Annual (SMU24000003200000008A), retrieved from FRED.