All Employees: Financial Activities: Insurance Carriers and Related Activities in Ohio
Annual, Not Seasonally Adjusted
SMU39000005552400001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.30
Year-over-Year Change
15.98%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the annual, not seasonally adjusted average hourly earnings of production and nonsupervisory employees in the private manufacturing sector. It provides insights into wage growth and labor market dynamics.
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, not seasonally adjusted average hourly earnings is a key indicator of compensation trends for production and nonsupervisory employees. It is used by economists and policymakers to assess the overall health of the labor market and inflationary pressures.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- The annual average was $27.78 in 2022.
- This trend has increased by over 5% since 2020.
- Manufacturing accounts for about 12% of U.S. employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, not seasonally adjusted average hourly earnings of production and nonsupervisory employees in the private manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into wage growth and labor market dynamics, which are closely watched by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU39000005552400001A), retrieved from FRED.