Average Hourly Earnings of All Employees: Construction in Montana
Annual
SMU30000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.47
Year-over-Year Change
49.28%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year percent change in average hourly earnings for all employees on private nonfarm payrolls in the United States. This metric is a key indicator of wage growth and inflationary pressures in the economy.
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, which reflects changes in both wages and the composition of the labor force. It is a widely watched economic indicator used by policymakers, analysts, and businesses to gauge the pace of wage inflation and consumer purchasing power.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings are closely monitored by the Federal Reserve and other economic policymakers for insights into the labor market and inflationary outlook.
Key Facts
- The Annual trend has averaged 3.2% over the past 20 years.
- Wage growth has accelerated since the COVID-19 pandemic as labor shortages emerged.
- Rapid wage inflation can contribute to broader price increases in the economy.
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 employees on private nonfarm payrolls in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings are a key indicator of wage growth and inflationary pressures, providing insights into the health of the labor market and the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average hourly earnings are closely monitored by the Federal Reserve and other economic policymakers for insights into the labor market and inflationary outlook, which inform policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU30000002000000003A), retrieved from FRED.