Average Weekly Hours of All Employees: Professional and Business Services in North Carolina
Annual
SMU37000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.40
Year-over-Year Change
1.11%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of all employees in the private nonfarm sector of the U.S. economy. It is a key indicator of labor market conditions and wage growth.
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 average hourly wage paid to workers in the private sector, excluding government employees. It is a widely-tracked statistic used by economists, policymakers, and analysts to gauge inflationary pressures and the overall health of the labor market.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted 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
- Hourly earnings have increased by 5.2% over the past year.
- The private sector employs over 130 million workers in the U.S.
- Wage growth is a key factor in the Federal Reserve's policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of all employees in the private nonfarm sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions and wage growth, which are important factors for economists, policymakers, and market analysts.
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: The Annual trend is closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU37000006000000002A), retrieved from FRED.