Average Weekly Hours of Production Employees: Manufacturing in Indiana
Annual
SMU18000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.40
Year-over-Year Change
-2.88%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average annual total compensation for civilian workers in the United States. It is a key economic indicator used by policymakers and analysts to assess labor market conditions and employment costs.
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 average annual salary, wages, and benefits paid to civilian workers across all industries in the U.S. It provides insights into national-level employment compensation levels and trends over time.
Methodology
The data is collected through the National Compensation Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform economic and labor market policies at the federal and state levels.
Key Facts
- Annual compensation averaged $70,934 in 2022.
- Wages and salaries make up about 70% of total compensation.
- Compensation has grown by 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average total annual compensation, including wages, salaries, and benefits, paid to civilian workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into national-level employment compensation levels and trends, which are key considerations for economic and labor market policies.
Q: How is this data collected or calculated?
A: The data is collected through the National Compensation Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess labor market conditions and employment costs, which informs economic and labor market policies at the federal and state levels.
Q: Are there update delays or limitations?
A: The Annual trend data is typically released with a 3-month delay by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual (SMU18000003000000007A), retrieved from FRED.