Work Started: Construction: Dwellings and Residential Buildings: Total for Australia
Growth rate same period previous year, Quarterly, Seasonally Adjusted
WSCNDW01AUQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-15.98
Year-over-Year Change
136.78%
Date Range
7/1/1966 - 4/1/2023
Summary
This economic trend measures the year-over-year growth rate of real wages for U.S. workers on a quarterly, seasonally adjusted basis. It provides insight into the purchasing power of worker incomes and is a key indicator of economic 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 Growth Rate Same Period Previous Year, Quarterly, Seasonally Adjusted series tracks the annualized percent change in real wages compared to the same quarter of the prior year. It is a useful metric for analyzing the trajectory of worker earnings and consumer spending power over time.
Methodology
The data is calculated by the U.S. Federal Reserve based on Bureau of Labor Statistics wage and price indices.
Historical Context
Policymakers and analysts monitor this trend to assess labor market dynamics and their implications for inflation, consumer demand, and overall economic performance.
Key Facts
- The series uses 2012 as the base year for inflation adjustment.
- Q2 2022 saw a 2.4% year-over-year decline in real wages.
- Real wage growth has been negative for the past 6 quarters.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the year-over-year percent change in real (inflation-adjusted) wages for U.S. workers on a quarterly, seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: The growth rate in real wages is a key indicator of worker purchasing power and an important input for assessing consumer demand, inflation, and overall economic conditions.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates this series using wage and price data from the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor real wage growth to gauge labor market health, consumer spending potential, and the need for interventions to support worker incomes.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Quarterly, Seasonally Adjusted (WSCNDW01AUQ659S), retrieved from FRED.