Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maryland
Annual
SMU24000004000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.64
Year-over-Year Change
39.18%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual Employment Cost Index measures the rate of change in compensation costs for civilian workers in the United States. It is a key indicator of labor market conditions and wage inflation.
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 Employment Cost Index (ECI) tracks the changes in the price of labor, including wages and benefits, over time. It is a widely-used metric for understanding labor market dynamics and inflationary pressures.
Methodology
The data is collected through the National Compensation Survey, a quarterly sample survey of employers.
Historical Context
The ECI is closely monitored by the Federal Reserve and policymakers as a gauge of labor market tightness and potential inflationary trends.
Key Facts
- The ECI covers both private industry and state/local government workers.
- It adjusts for changes in the composition of the labor force.
- The index is published quarterly by the Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: The Annual Employment Cost Index (ECI) measures the rate of change in total compensation costs for civilian workers in the United States, including both wages and benefits.
Q: Why is this trend relevant for users or analysts?
A: The ECI is a key indicator of labor market conditions and wage inflation, providing valuable insights for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through the National Compensation Survey, a quarterly sample survey of employers conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The ECI is closely monitored by the Federal Reserve and other policymakers as a gauge of labor market tightness and potential inflationary pressures, informing monetary policy decisions.
Q: Are there update delays or limitations?
A: The ECI is published quarterly, with a typical release lag of about one month after the reference period.
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Citation
U.S. Federal Reserve, Annual Employment Cost Index (SMU24000004000000003A), retrieved from FRED.