Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in South Carolina
Annual
SMU45000004000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
882.65
Year-over-Year Change
40.01%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of total nonfarm employment in the United States. This key economic indicator is closely watched by policymakers and analysts to assess the overall health and growth of the U.S. labor market.
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 level of total nonfarm employment throughout the calendar year, including jobs in the private sector as well as federal, state, and local governments. It is a broad measure of economic activity and a fundamental input for analysis of the U.S. macroeconomy.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in annual nonfarm employment are used by the Federal Reserve, economists, and market participants to inform monetary policy, economic forecasting, and investment decisions.
Key Facts
- The annual average of total nonfarm employment in the U.S. was over 151 million in 2022.
- Nonfarm employment accounts for approximately 80% of total U.S. employment.
- The Annual trend is a key input for the Federal Reserve's dual mandate of price stability and maximum employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the annual average level of total nonfarm employment in the United States, providing a broad indicator of economic activity and labor market health.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a fundamental economic indicator used by policymakers, economists, and market participants to assess the overall strength of the U.S. labor market and make informed decisions about monetary policy, economic forecasting, and investment strategies.
Q: How is this data collected or calculated?
A: The data for the Annual trend is collected through monthly surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in annual nonfarm employment are closely monitored by the Federal Reserve and other policymakers to inform decisions on monetary policy and support the central bank's dual mandate of price stability and maximum employment.
Q: Are there update delays or limitations?
A: The Annual trend is released with a slight delay, as it is calculated based on the monthly employment data collected throughout the calendar year. There may also be revisions to the data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU45000004000000011A), retrieved from FRED.