All Employees: Trade, Transportation, and Utilities in Rhode Island
Annual, Not Seasonally Adjusted
SMU44000004000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77.40
Year-over-Year Change
4.17%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the annual, not seasonally adjusted average hourly earnings for all employees in private industry in the United States. It provides insights into labor market conditions and wage growth 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 series tracks the average gross pay per hour received by U.S. private sector workers. It is a key indicator of the overall strength and compensation trends in the American labor market.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this trend to assess inflationary pressures and guide decisions on monetary and fiscal policies.
Key Facts
- The annual, not seasonally adjusted average hourly earnings has increased by over 50% since 2000.
- This metric reached a record high of $31.31 per hour in 2022.
- Wage growth has outpaced inflation in recent years, supporting consumer purchasing power.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings for all private industry employees in the United States on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: The annual, not seasonally adjusted average hourly earnings is a key indicator of labor market conditions and wage growth dynamics, which are crucial for assessing inflationary pressures and guiding economic policies.
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: Policymakers and economists closely monitor this trend to assess labor market conditions and guide decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of about one month.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU44000004000000001A), retrieved from FRED.