Average Hourly Earnings of All Employees: Construction in Rhode Island
Monthly
SMU44000002000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.38
Year-over-Year Change
0.67%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Monthly' series measures the average hourly earnings of production and nonsupervisory employees in the total private sector on a monthly basis. This key economic indicator provides insights into wage growth and labor market conditions.
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 'Monthly' series represents average hourly earnings, which are an important measure of labor costs and a key input for economic analysis and policymaking. This data helps economists and policymakers assess the strength of the labor market and inflationary pressures in the broader economy.
Methodology
The U.S. Bureau of Labor Statistics collects this data through surveys of nonfarm business establishments.
Historical Context
Analysts and policymakers use this data to monitor trends in worker compensation and assess the health of the labor market.
Key Facts
- The data is released monthly by the U.S. Bureau of Labor Statistics.
- Average hourly earnings are a key indicator of inflationary pressures.
- This series covers production and nonsupervisory employees in the private sector.
FAQs
Q: What does this economic trend measure?
A: The 'Monthly' series measures the average hourly earnings of production and nonsupervisory employees in the total private sector on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into wage growth and labor market conditions, which are crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through surveys of nonfarm business establishments.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to monitor trends in worker compensation and assess the health of the labor market, which informs economic policies.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with some delay from the reference period.
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Citation
U.S. Federal Reserve, Monthly (SMU44000002000000003), retrieved from FRED.