Average Weekly Hours of All Employees: Construction in Arkansas
Annual
SMU05000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.80
Year-over-Year Change
3.92%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of all employees in the private sector on an annual basis. This metric is a key indicator of wage growth and labor market conditions in the United States.
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 represents the average hourly wage for all private sector employees, a crucial data point for economists and policymakers to assess the overall health of the labor market and broader economy. It is used to track changes in worker compensation over time.
Methodology
The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts closely monitor this trend to inform decisions on interest rates, inflation, and other economic policies.
Key Facts
- Annual wage growth averaged 4.2% in 2022.
- Wages have increased by 15% over the past 5 years.
- The private sector employs over 130 million workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of all private sector employees in the United States on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of wage growth and labor market conditions, providing important insights for economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this trend to inform decisions on interest rates, inflation, and other economic policies.
Q: Are there update delays or limitations?
A: The Annual trend is published with a one-month lag, and may be subject to revisions as additional data becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU05000002000000002A), retrieved from FRED.