Average Weekly Hours of All Employees: Total Private in Idaho
Annual
SMU16000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.10
Year-over-Year Change
1.49%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the manufacturing sector. It is a key economic indicator used to assess wage growth and labor market conditions.
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 earnings of production and nonsupervisory employees in the U.S. manufacturing industry. This metric provides insight into labor costs, worker compensation, and broader economic trends that are useful for policymakers, analysts, and businesses.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other policymakers to gauge inflationary pressures and guide monetary policy decisions.
Key Facts
- The Annual trend has increased by over 50% since 2000.
- Manufacturing accounts for about 12% of U.S. employment.
- Wage growth is a key metric for the Federal Reserve's dual mandate.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into labor costs, worker compensation, and broader economic trends that are useful for policymakers, analysts, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by the Federal Reserve and other policymakers to gauge inflationary pressures and guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a typical release delay of 1-2 weeks.
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Citation
U.S. Federal Reserve, Annual (SMU16000000500000002A), retrieved from FRED.