Average Hourly Earnings of All Employees: Other Services in West Virginia
Annual
SMU54000008000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.35
Year-over-Year Change
49.57%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual rate of change in total employment in the United States. This key economic indicator provides insights into the overall health and growth of the 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 trend tracks the year-over-year change in total nonfarm employment, a broad measure of job creation across various sectors of the U.S. economy. It is widely followed by economists, policymakers, and analysts to assess the strength and direction of the job market.
Methodology
The data is collected through monthly surveys of businesses and households conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual employment trend is a critical input for Federal Reserve monetary policy decisions and is closely watched by financial markets.
Key Facts
- The Annual trend reached a record high of 4.7% in 2022.
- Employment in the U.S. has recovered to pre-pandemic levels.
- Job growth has been broad-based across sectors in the past year.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in total nonfarm employment in the United States, providing insights into the overall strength of the labor market.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of economic health and is closely watched by policymakers, economists, and financial markets to assess the direction and momentum of the job market.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and households conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a critical input for Federal Reserve monetary policy decisions, as it provides insights into the overall strength of the labor market and the broader economy.
Q: Are there update delays or limitations?
A: The Annual employment data is published monthly with a brief delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU54000008000000003A), retrieved from FRED.