Average Weekly Hours of All Employees: Professional and Business Services in Oregon
Annual
SMU41000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.70
Year-over-Year Change
2.88%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual salary for all occupations in the United States. It provides an important benchmark for understanding wage growth and labor market trends.
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 the average annual wages across all occupations in the U.S. labor market. It is a widely used metric for analyzing compensation levels, negotiating salaries, and assessing the overall health of the job market.
Methodology
The data is collected through the Occupational Employment and Wage Statistics (OEWS) program, a collaborative effort between the U.S. Bureau of Labor Statistics and state workforce agencies.
Historical Context
Policymakers, economists, and human resources professionals closely monitor the Annual trend to inform economic and labor market decisions.
Key Facts
- The Annual trend reached a record high of $58,260 in 2021.
- Average annual wages have increased by 3.2% on average over the past decade.
- The Annual trend is released annually by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual salary for all occupations in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of wage growth and labor market health, providing important context for economic and employment decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Occupational Employment and Wage Statistics (OEWS) program, a collaborative effort between the U.S. Bureau of Labor Statistics and state workforce agencies.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and human resources professionals closely monitor the Annual trend to inform economic and labor market decisions.
Q: Are there update delays or limitations?
A: The Annual trend is released annually by the U.S. Bureau of Labor Statistics, with a delay of several months from the reference year.
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Citation
U.S. Federal Reserve, Annual (SMU41000006000000002A), retrieved from FRED.