Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in South Carolina
Annual
SMU45000004000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.91
Year-over-Year Change
46.41%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual pay for all workers in the U.S. It is a key indicator of income and economic well-being.
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 or earnings across all employment in the United States. It is a widely tracked economic statistic used to assess income levels, cost of living, and labor market trends.
Methodology
The data is collected through surveys of employers and calculated as the total annual pay divided by the number of workers.
Historical Context
Policymakers and analysts monitor this trend to understand workforce compensation and its implications for consumer spending and the broader economy.
Key Facts
- The average annual pay in the U.S. was $54,132 in 2021.
- Annual pay has grown by 4.7% on average over the past 10 years.
- Wages and salaries make up over 70% of total personal income in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual pay or earnings for all workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of income levels, cost of living, and labor market conditions in the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and calculated as the total annual pay divided by the number of workers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand workforce compensation and its implications for consumer spending and the broader economy.
Q: Are there update delays or limitations?
A: The Annual data is published on a regular schedule with minimal delays, making it a timely indicator of economic conditions.
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Citation
U.S. Federal Reserve, Annual (SMU45000004000000003A), retrieved from FRED.