Average Weekly Hours of All Employees: Total Private in South Carolina
Annual
SMU45000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.80
Year-over-Year Change
-3.70%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of all private nonfarm employees in the United States. It is a key economic indicator used to assess wage growth and inflationary pressures.
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 provides insight into the overall state of the U.S. labor market by tracking changes in employee compensation. Economists and policymakers closely monitor this data to understand employment dynamics and make informed decisions.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is widely referenced in discussions of monetary policy, consumer spending, and the broader economic outlook.
Key Facts
- The Annual trend reached a high of $31.58 in January 2023.
- Wage growth has outpaced inflation in recent months.
- Annual earnings growth has averaged 5.1% over the past year.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of all private nonfarm employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of the overall health of the U.S. labor market and can signal inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is widely referenced in discussions of monetary policy, consumer spending, and the broader economic outlook.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical delay of about a month.
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Citation
U.S. Federal Reserve, Annual (SMU45000000500000002A), retrieved from FRED.