Average Hourly Earnings of All Employees: Total Private in Connecticut
Annual
SMU09000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.85
Year-over-Year Change
34.55%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual increase or decrease in hourly earnings for all employees in the United States. It is a key economic indicator used by policymakers and analysts to assess the health of the labor market and inflationary pressures in the economy.
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 is an important metric that tracks changes in worker compensation over time. It provides insights into the nominal wage growth experienced by American workers, which can inform decisions around monetary policy, government spending, and economic forecasting.
Methodology
The data for this trend is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers closely monitor the Annual trend to gauge the strength of the labor market and its potential impact on inflation.
Key Facts
- The Annual trend has averaged 3.2% growth over the past 20 years.
- Nominal wage growth typically lags behind inflation during periods of high price increases.
- Annual wage growth is considered a key input for the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual increase or decrease in hourly earnings for all employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides important insights into the strength of the labor market and potential inflationary pressures, which are crucial for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data for this trend is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor the Annual trend to gauge the strength of the labor market and its potential impact on inflation, which informs decisions around monetary policy, government spending, and economic forecasting.
Q: Are there update delays or limitations?
A: The Annual trend data is released on a monthly basis with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU09000000500000003A), retrieved from FRED.