Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in West Virginia
Annual
SMU54000004000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.38
Year-over-Year Change
33.75%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector. It is an important economic indicator that 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 is a key metric used by economists and policymakers to assess the overall health of the labor market. It tracks changes in the average hourly wage, which is a crucial factor in consumer spending, inflation, and the Federal Reserve's monetary policy decisions.
Methodology
The data is collected through surveys of private-sector employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to gauge the strength of the economy and inform decisions on interest rates, fiscal policy, and other economic interventions.
Key Facts
- The Annual trend reached a high of $27.03 in January 2023.
- Wages have risen by 4.4% over the past 12 months.
- The trend is a key input for the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the strength of the labor market and is a key indicator of wage growth and potential inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private-sector employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor the Annual trend to inform decisions on interest rates, fiscal policy, and other economic interventions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU54000004000000003A), retrieved from FRED.