Average Hourly Earnings of All Employees: Total Private in Arizona
Annual
SMU04000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.19
Year-over-Year Change
46.79%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures average hourly earnings for all private nonfarm employees in the United States. This metric is a key indicator of wage growth and labor market 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 Annual trend, published by the U.S. Bureau of Labor Statistics, tracks changes in average hourly earnings for all private nonfarm workers. It provides insight into the underlying strength of the labor market and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics survey of businesses and government agencies.
Historical Context
Policymakers and analysts use this metric to assess the health of the economy and inform decisions around monetary and fiscal policy.
Key Facts
- Annual earnings grew by 5.1% in 2022.
- The annual trend reached a record high in December 2022.
- Wage growth has outpaced inflation in recent months.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings for all private nonfarm employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth and labor market conditions, which are key factors for policymakers and economists in assessing the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Annual trend to inform decisions around monetary and fiscal policy, as it reflects the underlying strength of the labor market and inflationary pressures.
Q: Are there update delays or limitations?
A: The Annual trend is published monthly with a relatively short delay, making it a timely indicator of labor market conditions.
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Citation
U.S. Bureau of Labor Statistics, Annual (SMU04000000500000003A), retrieved from FRED.