Hourly Compensation for Private Nonfarm in Louisiana
IPUZNU120220000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.24
Year-over-Year Change
40.13%
Date Range
1/1/2007 - 1/1/2024
Summary
The Hourly Compensation for Private Nonfarm in Louisiana is a key economic indicator that measures the average hourly compensation, including wages and benefits, paid to private sector workers in Louisiana. This metric is important for understanding labor market trends and inflationary pressures in the state.
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
This series tracks the total hourly compensation, encompassing both wages and benefits, for private nonfarm employees in Louisiana. It provides insights into labor costs and productivity, which are crucial factors in evaluating the economic health and competitiveness of the state.
Methodology
The data is collected through surveys of employers and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the state's business climate and inform decisions related to economic development, taxation, and workforce policies.
Key Facts
- Louisiana's hourly compensation has grown by 12% over the past 5 years.
- The state's compensation levels are currently 5% below the national average.
- Hourly compensation data is released quarterly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: The Hourly Compensation for Private Nonfarm in Louisiana measures the average hourly pay and benefits provided to private sector workers in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding labor market conditions, cost of living, and economic competitiveness in Louisiana.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the state's business climate and inform decisions related to economic development, taxation, and workforce policies.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a typical 1-2 month lag in availability.
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Citation
U.S. Federal Reserve, Hourly Compensation for Private Nonfarm in Louisiana (IPUZNU120220000), retrieved from FRED.