Average Hourly Earnings of All Employees: Total Private in Colorado
Annual
SMU08000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.15
Year-over-Year Change
55.02%
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 economic conditions and labor market strength.
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 paid to private sector workers in the U.S. It is a widely-watched economic indicator that helps analysts and policymakers assess the health of the labor market and broader economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor wage growth trends to understand inflationary pressures and guide monetary and fiscal policy decisions.
Key Facts
- Private sector wages have risen over 4% annually in recent years.
- Wage growth above 3% is considered consistent with the Federal Reserve's 2% inflation target.
- Slower wage growth can signal a softer labor market and economic slowdown.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly wage paid to private sector workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of labor market strength and inflationary pressures, making the Annual trend an important metric for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor wage growth trends to help guide monetary and fiscal policy decisions aimed at maintaining price stability and maximum employment.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a typical 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU08000000500000003A), retrieved from FRED.