Average Hourly Earnings of All Employees: Construction in Idaho
Annual
SMU16000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.63
Year-over-Year Change
66.41%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual series measures the average annual growth rate of total employment in the United States. This key economic indicator provides insights into the overall health and direction of the 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 series represents the year-over-year percent change in total nonfarm employment, a broad measure of job creation across various sectors of the U.S. economy. This metric is widely followed by economists, policymakers, and market analysts to gauge macroeconomic performance and labor market trends.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual employment growth rate is a crucial input for monetary and fiscal policy decisions.
Key Facts
- The U.S. economy added an average of 2.1 million jobs per year over the past decade.
- Annual employment growth has exceeded 2% in 7 of the last 10 years.
- The COVID-19 pandemic caused a sharp 5.7% decline in annual employment in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the year-over-year percent change in total nonfarm employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment growth rate is a key indicator of the overall health and direction of the U.S. labor market, providing insights that are crucial for economic policymaking and market analysis.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment growth rate is a crucial input for monetary and fiscal policy decisions, as it reflects the strength and trajectory of the labor market.
Q: Are there update delays or limitations?
A: The Annual data is subject to revisions by the Bureau of Labor Statistics and may have a one-month publication lag.
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Citation
U.S. Federal Reserve, Annual (SMU16000002000000003A), retrieved from FRED.