Average Hourly Earnings of Production Employees: Manufacturing in North Carolina
Annual
SMU37000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.31
Year-over-Year Change
40.85%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in wages and salaries for the total private nonfarm sector in the United States. It provides important insights into labor market dynamics 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 is a key economic indicator that tracks the annual percentage change in average hourly earnings for private nonfarm payrolls. This metric is widely used by economists, policymakers, and investors to assess the strength of the labor market and inflationary trends in the broader economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses.
Historical Context
This trend is closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- The Annual trend reached a peak of 7.9% in March 2023.
- Wages and salaries have steadily increased since the COVID-19 pandemic.
- The Federal Reserve closely tracks this metric to gauge inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in average hourly earnings for private nonfarm payrolls in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market dynamics and inflationary pressures, which are crucial for economic policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions closely monitor this trend to inform monetary policy decisions and assess the overall strength of the labor market and inflationary conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a brief lag, and is subject to potential revisions by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual (SMU37000003000000008A), retrieved from FRED.