Average Hourly Earnings of All Employees: Leisure and Hospitality in Arizona
Annual
SMU04000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.26
Year-over-Year Change
63.92%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in average hourly earnings for all employees in the private sector. It provides insight into the pace of wage growth, an important economic indicator for policymakers and analysts.
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 average hourly earnings from the same month a year earlier. It helps evaluate changes in worker compensation and the overall health of the labor market.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Wage growth trends are closely monitored by the Federal Reserve and influence policy decisions.
Key Facts
- The Annual trend reached a high of 5.6% in March 2023.
- Steady wage growth helps support consumer spending.
- Historically, annual wage growth averages around 3-4%.
FAQs
Q: What does this economic trend measure?
A: The Annual trend tracks the year-over-year percent change in average hourly earnings for all private sector employees.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key economic indicator that signals the strength of the labor market and helps inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve closely monitors wage growth trends when making monetary policy decisions to support stable employment and prices.
Q: Are there update delays or limitations?
A: The Annual data is released monthly with a 1-month lag.
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Citation
U.S. Federal Reserve, Annual (SMU04000007000000003A), retrieved from FRED.