Average Hourly Earnings of Production Employees: Professional and Business Services in West Virginia
Annual
SMU54000006000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.21
Year-over-Year Change
42.91%
Date Range
1/1/2003 - 1/1/2024
Summary
The Annual trend measures the average annual change in employment in the private sector for the United States. This metric is closely watched by economists and policymakers as an indicator of overall economic health 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 year-over-year change in private sector employment, providing insight into the growth or contraction of the job market. It is a key economic indicator used to assess the strength and direction of the U.S. economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely referenced by analysts, investors, and policymakers to inform decisions and policies related to the labor market and broader economic conditions.
Key Facts
- The Annual trend is measured on a monthly basis.
- Employment in the private sector accounts for approximately 85% of total U.S. employment.
- This metric helps identify turning points in the business cycle and inform policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual change in employment in the private sector for the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers as an indicator of overall economic health and labor market conditions.
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: This trend is widely referenced by analysts, investors, and policymakers to inform decisions and policies related to the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual trend is measured on a monthly basis with minimal update delays.
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Citation
U.S. Federal Reserve, Annual (SMU54000006000000008A), retrieved from FRED.