Average Weekly Earnings of All Employees: Construction in Utah
Annual
SMU49000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,474.92
Year-over-Year Change
57.82%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in average hourly earnings for all private non-farm employees in the United States. This metric is a key indicator of labor market conditions and inflationary pressures.
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 tracks the annual percent change in average hourly wages, providing insight into the pace of wage growth and the broader health of the U.S. labor market. Economists and policymakers closely monitor this indicator to assess inflationary risks and guide policy decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
The Annual trend is a crucial input for the Federal Reserve's monetary policy decisions and is widely followed by financial markets.
Key Facts
- Annual wage growth reached a high of 5.6% in March 2022.
- The Annual trend is published monthly by the U.S. Bureau of Labor Statistics.
- Rapid wage growth can contribute to inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in average hourly earnings for all private non-farm employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and inflationary pressures, providing insight into the pace of wage growth and the broader health of the U.S. labor market.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: The Annual trend is a crucial input for the Federal Reserve's monetary policy decisions and is widely followed by financial markets.
Q: Are there update delays or limitations?
A: The Annual trend is published monthly by the U.S. Bureau of Labor Statistics, with a typical one-month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, Annual (SMU49000002000000011A), retrieved from FRED.