Average Hourly Earnings of All Employees: Leisure and Hospitality in Ohio
Annual
SMU39000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.62
Year-over-Year Change
64.32%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual change in employment for the U.S. manufacturing sector. This metric is a key indicator of the overall health and direction of the American economy.
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 year-over-year percent change in manufacturing employment. It provides insights into the performance and trajectory of the U.S. industrial sector, which is a vital component of the broader economy.
Methodology
The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts closely monitor manufacturing employment trends to gauge macroeconomic conditions and guide economic decision-making.
Key Facts
- The U.S. manufacturing sector employs over 12 million workers.
- Manufacturing accounts for about 11% of total U.S. GDP.
- Annual manufacturing employment growth has averaged 0.5% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in manufacturing employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing employment is a key indicator of the overall health and direction of the U.S. economy, making this trend highly relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor manufacturing employment trends to assess macroeconomic conditions and guide policy decisions that affect the broader economy.
Q: Are there update delays or limitations?
A: The Annual data is published with a one-month lag and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU39000007000000003A), retrieved from FRED.