Average Hourly Earnings of All Employees: Other Services in Virginia
Annual
SMU51000008000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.72
Year-over-Year Change
21.42%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average number of paid employee jobs in the United States, providing an overview of labor market conditions and economic activity.
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 annual average of the monthly total nonfarm employment level in the United States. It is a key indicator of the overall health and growth of the U.S. economy, used by policymakers, analysts, and businesses to assess employment trends and inform economic decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses.
Historical Context
The Annual employment trend is closely watched by the Federal Reserve and other policymakers as they evaluate the strength of the labor market and broader economic conditions.
Key Facts
- The Annual trend reached a record high of 153.1 million jobs in 2019.
- Employment declined sharply in 2020 due to the COVID-19 pandemic.
- The service sector accounts for the majority of U.S. nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the annual average of total nonfarm employment in the United States, providing a high-level overview of labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of economic health and growth, used by policymakers, economists, and businesses to assess the strength of the labor market and inform economic decisions.
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 conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment trend is closely monitored by the Federal Reserve and other policymakers as they evaluate the strength of the labor market and broader economic conditions, which informs their policy decisions.
Q: Are there update delays or limitations?
A: The Annual employment data is published with a one-month lag, and may be subject to revisions as more complete information becomes available.
Related Trends
Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Virginia
SMU51000003200000030
Insured Unemployment Rate in Virginia
VAINSUREDUR
Personal Consumption Expenditures: Nondurable Goods: Other Nondurable Goods for Virginia
VAPCEONDURG
All Employees: Education and Health Services: Ambulatory Health Care Services in Virginia
SMU51000006562100001
Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Virginia
VANDURMANRGSP
Accommodation and Food Services Earnings in Virginia
VAEACC
Citation
U.S. Federal Reserve, Annual (SMU51000008000000003A), retrieved from FRED.