Average Hourly Earnings of Production Employees: Manufacturing in Washington
Annual
SMU53000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.35
Year-over-Year Change
34.01%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual Trend measures the annual rate of change in average hourly earnings for all employees in the private sector in the United States. This key labor market indicator provides insights into wage growth 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 year-over-year percent change in average hourly earnings, a widely followed measure of nominal wage growth. It serves as an important input for policymakers and analysts assessing the overall health of the labor market and inflationary dynamics in the broader economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual Trend is closely monitored by the Federal Reserve and other policymakers for its implications on monetary policy decisions.
Key Facts
- Annual wage growth averaged 5.9% in 2022.
- Nominal wage growth has outpaced inflation in recent years.
- The Annual Trend is a key input for the Federal Reserve's policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the year-over-year percent change in average hourly earnings for all private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend provides valuable insights into the strength of the labor market and inflationary pressures, making it a closely watched indicator by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual Trend is a key input for the Federal Reserve's monetary policy decisions, as it helps assess the overall health of the labor market and inflationary dynamics in the economy.
Q: Are there update delays or limitations?
A: The Annual Trend data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU53000003000000008A), retrieved from FRED.