Average Hourly Earnings of All Employees: Leisure and Hospitality in Massachusetts
Annual
SMU25000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.97
Year-over-Year Change
66.80%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of monthly state employment levels in Pennsylvania. It is a key indicator used by economists and policymakers to assess long-term labor market trends and economic 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 provides the yearly average of state-level employment data for Pennsylvania. It is a valuable metric for understanding broader employment patterns and the overall health of the state's economy over time.
Methodology
The data is collected through surveys of Pennsylvania employers and calculated as the annual average of the monthly state employment figures.
Historical Context
The Annual trend is widely used by economists, analysts, and policymakers to inform economic policy decisions and market forecasts.
Key Facts
- Pennsylvania's annual employment averaged 6.1 million workers in 2021.
- The Annual trend has increased by 2.3% on average over the past decade.
- Manufacturing accounts for 12% of Pennsylvania's total annual employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the yearly average of monthly state employment levels in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator used by economists and policymakers to assess long-term labor market trends and the overall health of Pennsylvania's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Pennsylvania employers and calculated as the annual average of the monthly state employment figures.
Q: How is this trend used in economic policy?
A: The Annual trend is widely used by economists, analysts, and policymakers to inform economic policy decisions and market forecasts.
Q: Are there update delays or limitations?
A: The Annual trend data is updated monthly with a 1-month delay, providing timely but not real-time information on Pennsylvania's employment levels.
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Citation
U.S. Federal Reserve, Annual (SMU25000007000000003A), retrieved from FRED.