Average Hourly Earnings of All Employees: Leisure and Hospitality in Nebraska
Annual
SMU31000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.01
Year-over-Year Change
64.56%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings for all employees in the private sector. It is a key indicator of economic conditions and worker compensation.
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 a measure of the overall wage growth in the U.S. economy. It is widely used by economists, policymakers, and analysts to assess labor market strength and inflationary pressures.
Methodology
The data is collected through surveys of private sector businesses by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- Annual wages have increased by an average of 3.5% over the past 10 years.
- The current annual wage growth rate is 4.2%.
- Wage growth is a key input for the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings for all employees in the private sector. It provides an overall gauge of wage growth in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a crucial indicator of labor market conditions and inflationary pressures, which are closely monitored by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private sector businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is a key input for the Federal Reserve's monetary policy decisions, as wage growth is a significant factor in determining inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU31000007000000003A), retrieved from FRED.