Annual, Not Seasonally Adjusted
SMU49000005051100001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.80
Year-over-Year Change
82.61%
Date Range
1/1/1990 - 1/1/2021
Summary
This economic trend measures the annual, not seasonally adjusted average hourly earnings for production and nonsupervisory employees in the private sector in the United States. It is a key indicator of wage growth and inflation 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, Not Seasonally Adjusted series tracks the average hourly earnings for workers in the private sector, excluding managers and supervisors. This metric provides insight into broader wage dynamics and is used by economists and policymakers to assess employment conditions and inflationary trends.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This wage growth trend is closely monitored by the Federal Reserve and other institutions for its implications on monetary policy and the overall state of the economy.
Key Facts
- The average hourly wage in the U.S. private sector was $31.85 as of January 2023.
- Wage growth has outpaced inflation in recent months, though the pace has slowed from earlier highs.
- Rapid wage growth can contribute to inflationary pressures, leading the Federal Reserve to raise interest rates.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings for production and nonsupervisory employees in the private sector in the United States on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This wage growth metric provides important insights into broader labor market dynamics and inflationary pressures, which are closely monitored by economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions closely track this wage growth trend as it has implications for monetary policy and the overall state of the economy.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted data is published monthly with a one-month lag, providing timely information on wage growth trends.
Related Trends
Imports of Goods: Non-Manufactured Commodities for Utah
IMPNONUT
All Employees: Service-Providing in Utah
SMS49000000700000001
Gross Domestic Product: Truck Transportation (484) in Utah
UTTRUCKTRANNGSP
Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Utah
UTTEXTQGSP
Average Weekly Earnings of All Employees: Professional and Business Services in Utah
SMU49000006000000011
Housing Inventory: Price Increased Count Month-Over-Month in Utah
PRIINCCOUMMUT
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU49000005051100001A), retrieved from FRED.