Average Hourly Earnings of All Employees: Leisure and Hospitality in Rhode Island
Annual
SMU44000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.45
Year-over-Year Change
62.45%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures total annual compensation for private industry workers in the United States. This metric is crucial for economists and policymakers to understand labor market conditions and cost-of-living 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 represents the average annual pay for private industry workers in the U.S. It is a key indicator of overall labor market health and employee compensation, used to inform economic policy and business decisions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Historical Context
This trend provides important context for employment, inflation, and consumer spending analyses.
Key Facts
- Annual compensation has increased by over 50% since 2000.
- The U.S. private sector employs over 130 million workers.
- Wage growth is a key indicator of economic health.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average total annual compensation, including wages and benefits, for private industry workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding labor market conditions, employee earnings, and cost-of-living trends, which inform economic policymaking and business decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: The Annual trend provides important context for analyses of employment, inflation, and consumer spending, which are key factors in economic policymaking.
Q: Are there update delays or limitations?
A: The data is published quarterly with a brief lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU44000007000000003A), retrieved from FRED.