Average Hourly Earnings of All Employees: Total Private in Ohio
Annual
SMU39000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.93
Year-over-Year Change
45.07%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures average hourly earnings for all private sector employees in the United States. This metric is a key indicator of labor market conditions 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 tracks changes in the average hourly wage across the entire private sector workforce. Economists and policymakers monitor this data to assess the strength of the labor market and gauge potential inflationary risks.
Methodology
The Bureau of Labor Statistics collects this data through surveys of private sector establishments.
Historical Context
Annual earnings data is used by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- The annual growth rate in private sector hourly earnings was 5.1% as of the latest data.
- Wages have risen faster than inflation over the past year, improving real purchasing power.
- Annual earnings data is a leading indicator of consumer price pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend tracks the average hourly wage for all private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and inflationary pressures that informs monetary policy decisions.
Q: How is this data collected or calculated?
A: The Bureau of Labor Statistics collects this data through surveys of private sector establishments.
Q: How is this trend used in economic policy?
A: Annual earnings data is used by the Federal Reserve and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU39000000500000003A), retrieved from FRED.