Average Weekly Hours of All Employees: Construction in Wisconsin
Annual
SMU55000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.00
Year-over-Year Change
5.41%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the annual average of weekly earnings for all employees in the United States. It is a key indicator of labor market conditions and wage growth, which are important factors for policymakers and analysts.
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 average of weekly earnings tracks the average inflation-adjusted weekly earnings for all employees across all industries and occupations in the U.S. It is a broad measure of changes in worker compensation over time.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly nationwide sample survey of businesses and government agencies.
Historical Context
Policymakers and economists closely monitor this trend to assess the health of the labor market and broader economic conditions.
Key Facts
- The annual average of weekly earnings was $1,142 in 2022.
- Real wages (adjusted for inflation) rose 4.8% in 2022.
- Wage growth has outpaced inflation in the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees in the United States on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: The annual average of weekly earnings is a key indicator of labor market health and wage growth, which are important factors for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly nationwide sample survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the overall state of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The annual average of weekly earnings data is released on a monthly basis with a slight delay, typically within a few weeks of the end of the previous month.
Related Trends
Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Wisconsin
WIOTHTRANNGSP
Regional Price Parities: Services: Other for Wisconsin
WIRPPSERVEOTH
Total Carbon Dioxide Emissions From All Sectors, Coal for Wisconsin
EMISSCO2TOTVTTCOWIA
Real Median Household Income in Wisconsin
MEHOINUSWIA672N
Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin
WINDURMANNGSP
Construction Earnings in Wisconsin
WIECON
Citation
U.S. Federal Reserve, Annual (SMU55000002000000002A), retrieved from FRED.