Average Weekly Hours of All Employees: Construction in Mississippi
Annual
SMU28000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.30
Year-over-Year Change
-2.24%
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 on private nonfarm payrolls in the United States. This key labor market indicator provides insight into wage growth and inflationary pressures.
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 annual percent change in average hourly earnings, a measure of nominal wage growth. This metric is widely followed by economists, policymakers, and market analysts to assess labor market tightness, worker bargaining power, and potential inflationary forces in the broader economy.
Methodology
The data is collected through the monthly Current Employment Statistics survey of private sector employers.
Historical Context
The Annual trend is a crucial input for the Federal Reserve's monetary policy decisions and is closely watched for its implications on consumer spending, inflation, and overall economic conditions.
Key Facts
- Annual wage growth reached a high of 5.6% in March 2022.
- Wage growth has outpaced inflation in recent months.
- The Federal Reserve closely monitors the Annual trend for policy guidance.
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 nonfarm employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key labor market indicator that provides insights into wage growth, worker bargaining power, and potential inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics survey of private sector employers.
Q: How is this trend used in economic policy?
A: The Annual trend is a crucial input for the Federal Reserve's monetary policy decisions, as it helps assess labor market conditions and inflationary pressures.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU28000002000000002A), retrieved from FRED.