Average Hourly Earnings of All Employees: Professional and Business Services in Ohio
Annual
SMU39000006000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.36
Year-over-Year Change
42.70%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in total private employment in the U.S. This metric is a key indicator of the overall health and direction of the national labor market.
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 percent change in total private nonfarm employment over a 12-month period. It is a widely followed economic indicator that provides insight into broader employment and business conditions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of businesses and government agencies.
Historical Context
This trend is closely monitored by economists, policymakers, and market analysts to assess the strength of the U.S. economy.
Key Facts
- The Annual trend reached a low of -5.4% in April 2020 during the COVID-19 pandemic.
- Private employment in the U.S. has grown by an average of 1.5% per year over the past decade.
- The Annual trend is a leading indicator of broader economic conditions and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total private nonfarm employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the strength of the U.S. labor market and overall economic conditions. It is closely followed by economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: The Annual trend is a key input for the Federal Reserve and other policymakers in assessing the health of the economy and informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is released monthly with a one-month lag, providing timely information on employment trends.
Related Trends
All Employees: Retail Trade: Food and Beverage Stores in Ohio
SMU39000004244500001A
Real Gross Domestic Product: Information (51) in Ohio
OHINFORQGSP
All Employees: Health Care: Hospitals in Ohio
SMU39000006562200001A
All Employees: Education and Health Services: Health Care and Social Assistance in Ohio
SMS39000006562000001
Per Capita Personal Consumption Expenditures: Services for Ohio
OHPCEPCSRV
State Unemployment Benefits in Ohio
OHOBEN
Citation
U.S. Federal Reserve, Annual (SMU39000006000000003A), retrieved from FRED.