Average Weekly Earnings of All Employees: Construction in Massachusetts
Annual
SMU25000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,915.05
Year-over-Year Change
52.99%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in average hourly earnings for all employees in the private sector of the U.S. economy. It provides insight into 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 percent change in private sector wages from one year to the next. Economists and policymakers use this metric to assess inflationary pressures, labor market tightness, and the overall health of the economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Historical Context
This wage growth trend is a key input for Federal Reserve monetary policy decisions.
Key Facts
- Private sector wages rose 5.5% in 2022 compared to 2021.
- Wage growth has exceeded 5% for the past 12 months.
- Nominal wage growth reached its highest level since the 1980s.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in average hourly earnings for all private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This wage growth metric is a key indicator of labor market conditions and inflationary pressures in the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Labor Statistics' Current Employment Statistics (CES) survey of U.S. businesses.
Q: How is this trend used in economic policy?
A: The Federal Reserve closely monitors this wage growth trend as an input for setting monetary policy and managing inflation.
Q: Are there update delays or limitations?
A: The Annual data is released with a one-month lag and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Annual (SMU25000002000000011A), retrieved from FRED.