Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Colorado
Annual
SMU08000004000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.69
Year-over-Year Change
33.56%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures average weekly hours worked in the private sector in the United States. It is a key indicator of labor market activity and productivity trends.
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 series tracks the average number of hours that private sector employees work per week. It is an important metric for understanding worker productivity, labor force participation, and macroeconomic conditions.
Methodology
This data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Historical Context
Policymakers and economists closely monitor the Annual series to gauge the overall health of the labor market and inform decisions around employment and monetary policy.
Key Facts
- The Annual series is reported monthly by the U.S. Bureau of Labor Statistics.
- Average weekly hours worked in the private sector have ranged from 33 to 35 over the past decade.
- The Annual trend is considered a leading indicator of economic conditions and business cycle changes.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the average number of hours worked per week by private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market activity, worker productivity, and overall economic conditions. It is closely monitored by policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data for the Annual series is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use the Annual trend to inform decisions around employment, monetary, and fiscal policies aimed at promoting economic stability and growth.
Q: Are there update delays or limitations?
A: The Annual series is reported monthly by the U.S. Bureau of Labor Statistics with a typical release delay of around 1 month.
Related Trends
Real Gross Domestic Product: Trade (42, 44-45) in Colorado
COTRADERGSP
Gross Domestic Product: Transportation and Warehousing (48-49) in Colorado
COTRANSWARENQGSP
Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Colorado
COAGRNQGSP
Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Colorado
COADMINWASTNQGSP
Real Gross Domestic Product: Primary Metal Manufacturing (331) in Colorado
COPRIMETMANRGSP
Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in Colorado
COAMBHCQGSP
Citation
U.S. Federal Reserve, Annual (SMU08000004000000003A), retrieved from FRED.