Average Weekly Earnings of All Employees: Construction in West Virginia
Annual
SMU54000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,289.12
Year-over-Year Change
38.52%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of state-level private nonfarm employment levels. It is a key indicator of economic activity and labor market conditions.
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 state-level private nonfarm employment over a calendar year. This data is used by economists and policymakers to analyze broader employment trends and labor market dynamics across the United States.
Methodology
The data is collected through monthly surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is widely referenced in discussions of macroeconomic policy and performance.
Key Facts
- The Annual trend reached a record high in 2019 before declining during the COVID-19 pandemic.
- State-level private nonfarm employment accounts for over 80% of total U.S. employment.
- Annual data provides a comprehensive view of labor market conditions across the country.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average state-level private nonfarm employment over a calendar year, providing a broad indicator of economic activity and labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is widely used by economists, policymakers, and analysts to understand broader employment dynamics and labor market performance across the United States.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is a key reference point in discussions of macroeconomic policy and performance, informing decisions related to employment, labor markets, and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is subject to the timeliness of the underlying monthly employment surveys, with a typical lag of several weeks to a few months.
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Citation
U.S. Federal Reserve, Annual (SMU54000002000000011A), retrieved from FRED.