All Employees: Professional and Business Services in Alabama
Annual, Not Seasonally Adjusted
SMU01000006000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
263.70
Year-over-Year Change
20.69%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic indicator measures the average annual wages and salaries for private industry workers in the United States, without seasonal adjustments. It provides insights into compensation trends and is widely used by economists and policymakers.
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 represents the average annual earnings for private industry workers in the U.S. economy. This metric is an important benchmark for understanding wage growth and patterns in worker compensation, which have significant implications for consumer spending, inflation, and overall economic conditions.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program, which surveys a large sample of employers.
Historical Context
Policymakers and analysts closely monitor this trend to assess the strength of the labor market and inform decisions on monetary and fiscal policies.
Key Facts
- The average annual wage for private industry workers was $60,238 in 2021.
- Wages have increased by 4.7% annually on average over the past 10 years.
- The series dates back to 2006 and is updated quarterly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average annual wages and salaries for private industry workers in the United States, without seasonal adjustments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into compensation trends, which have significant implications for consumer spending, inflation, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program, which surveys a large sample of employers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this trend to assess the strength of the labor market and inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The series dates back to 2006 and is updated quarterly by the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU01000006000000001A), retrieved from FRED.