Average Hourly Earnings of All Employees: Manufacturing in Hawaii
Annual
SMU15000003000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.45
Year-over-Year Change
58.45%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in total nonfarm employment for the United States. This key economic indicator provides insight into the overall health and direction of the U.S. labor market.
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 percentage change in total nonfarm payroll employment from one year to the same month in the following year. Economists and policymakers closely monitor this long-term employment growth metric to assess broader economic conditions and make informed decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
The Annual employment trend is a leading indicator used to inform monetary and fiscal policy decisions.
Key Facts
- The U.S. has experienced positive annual employment growth for over a decade.
- Annual employment growth averaged 1.5% in the decade prior to the COVID-19 pandemic.
- The largest annual decline in nonfarm employment was -5.9% during the Great Recession.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total nonfarm employment for the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of the overall health and direction of the U.S. labor market, providing important insights for economic policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a leading indicator used to inform monetary and fiscal policy decisions by the Federal Reserve and other government institutions.
Q: Are there update delays or limitations?
A: The Annual employment data is released monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Annual (SMU15000003000000003A), retrieved from FRED.