Average Weekly Earnings of All Employees: Professional and Business Services in Minnesota
Annual
SMU27000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,672.34
Year-over-Year Change
59.27%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in employment levels within the United States. This metric is closely watched by economists and policymakers as a key indicator of economic health 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 total non-farm employment levels on an annual basis. It provides a broad overview of hiring and job creation trends across the U.S. economy, which is a critical factor in assessing macroeconomic performance and the strength of the labor market.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual employment trend is a major input for Federal Reserve monetary policy decisions and is closely monitored by financial markets.
Key Facts
- The Annual trend reached a low of -5.8% in April 2020 due to the COVID-19 pandemic.
- Annual employment growth has averaged 1.5% over the past 10 years.
- The U.S. has added over 20 million jobs since the Great Recession trough in 2010.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total non-farm employment levels across the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of the overall health and direction of the U.S. labor market, which is a critical component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a major input for Federal Reserve monetary policy decisions and is closely monitored by financial markets.
Q: Are there update delays or limitations?
A: The Annual employment data is released monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU27000006000000011A), retrieved from FRED.