Average Hourly Earnings of Production Employees: Manufacturing in Mississippi
Annual
SMU28000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.52
Year-over-Year Change
41.64%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average annual wage for all civilian workers in the United States. This metric is crucial for economists and policymakers to understand labor market dynamics and worker compensation trends.
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 represents the mean annual wage earned by civilian workers in the U.S. across all occupations and industries. It is a key indicator of the overall level and growth of worker earnings, which informs economic policy decisions and labor market analysis.
Methodology
The data is collected through the National Compensation Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor the Annual trend to assess the health of the labor market and make informed decisions about economic and employment policies.
Key Facts
- The Annual trend represents the average annual wage for all civilian workers in the U.S.
- The metric is calculated based on the National Compensation Survey data collected by the Bureau of Labor Statistics.
- Monitoring the Annual trend is crucial for understanding labor market dynamics and informing economic policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual wage earned by civilian workers across all occupations and industries in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of worker compensation and labor market dynamics, which is crucial for economists, policymakers, and labor market analysts to understand and make informed decisions.
Q: How is this data collected or calculated?
A: The data for the Annual trend is collected through the National Compensation Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the Annual trend to assess the health of the labor market and make informed decisions about economic and employment policies.
Q: Are there update delays or limitations?
A: The Annual trend data is typically updated on a regular schedule by the Bureau of Labor Statistics, but there may be occasional delays or limitations in data availability.
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Citation
U.S. Federal Reserve, Annual (SMU28000003000000008A), retrieved from FRED.