Average Hourly Earnings of Production Employees: Retail Trade in West Virginia
Annual
SMU54000004200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.81
Year-over-Year Change
40.08%
Date Range
1/1/2003 - 1/1/2024
Summary
The Annual trend measures the annual average of monthly employment levels for a given industry or sector. It is a key indicator of long-term employment trends and workforce dynamics.
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 employment trend provides a broad, annualized overview of changes in the labor market. It is commonly used by economists, policymakers, and analysts to identify employment patterns, assess economic performance, and inform policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics as the annual average of seasonally adjusted monthly employment figures.
Historical Context
The Annual employment trend is a vital input for monitoring the health of the economy and guiding fiscal and monetary policy.
Key Facts
- The Annual trend is a seasonally adjusted annual average.
- It covers total nonfarm employment across all industries.
- The data is released monthly by the Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the annual average of monthly employment levels for the total nonfarm workforce across all industries and sectors.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of long-term labor market dynamics and economic performance, providing important context for policy decisions and market analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics as the seasonally adjusted annual average of monthly employment figures.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a vital input for monitoring the health of the economy and guiding fiscal and monetary policy decisions by governments and central banks.
Q: Are there update delays or limitations?
A: The Annual employment data is released monthly with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, Annual (SMU54000004200000008A), retrieved from FRED.