Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Arizona
Annual
SMU04000003200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.92
Year-over-Year Change
80.75%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in total employee compensation. It provides insights into labor costs and 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 tracks the percent change in total employee compensation, including wages, salaries, and benefits, compared to the same period the previous year. This metric is a key indicator of inflation, worker productivity, and overall economic conditions.
Methodology
The data is collected from the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages.
Historical Context
Policymakers and analysts use the Annual trend to assess labor market health and guide decisions on monetary and fiscal policy.
Key Facts
- The Annual trend reached a high of 8.4% in Q4 2022.
- Compensation grew faster than inflation in 2022, but real wages still declined.
- The Annual trend has been above its long-term average since mid-2021.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in total employee compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insights into labor costs and market conditions, which are crucial for understanding inflation, worker productivity, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected from the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Annual trend to assess labor market health and guide decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Annual trend data is released quarterly, with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Annual (SMU04000003200000008A), retrieved from FRED.