All Employees: Financial Activities: Finance and Insurance in West Virginia
Annual, Not Seasonally Adjusted
SMU54000005552000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.90
Year-over-Year Change
3.85%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic indicator measures the average hourly earnings of production and nonsupervisory employees in the private sector on an annual, not seasonally adjusted basis. It provides insight into wage trends and is a key statistic for analyzing the overall health of the U.S. labor market.
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, Not Seasonally Adjusted series for average hourly earnings tracks changes in nominal wages over time, without adjusting for seasonal variations. This data point is widely used by economists and policymakers to assess the strength of the economy and monitor inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
Trends in average hourly earnings are closely watched by the Federal Reserve and other institutions for their implications on monetary policy and the broader economic outlook.
Key Facts
- The series dates back to 1964.
- Wages have increased by an average of 3.5% annually over the past decade.
- Manufacturing sector wages tend to be lower than the private sector average.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly earnings of production and nonsupervisory employees in the private sector on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings provide insight into wage growth and are a key metric for assessing the overall health of the U.S. labor market and economy.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Wage growth data is closely monitored by the Federal Reserve and other policymakers for its implications on monetary policy and the broader economic outlook.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted series is published with a one-month lag compared to the monthly, seasonally adjusted data.
Related Trends
All Employees: Accommodation and Food Services in West Virginia
SMU54000007072000001A
Average Weekly Earnings of All Employees: Private Service Providing in West Virginia
SMU54000000800000011A
Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in West Virginia
WVFININSREALRGSP
Gross Domestic Product: Manufacturing (31-33) in West Virginia
WVMANNQGSP
Average Weekly Hours of All Employees: Private Service Providing in West Virginia
SMU54000000800000002
Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in West Virginia
SMU54000003100000007A
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU54000005552000001A), retrieved from FRED.