Average Weekly Earnings of Production Employees: Manufacturing in Idaho
Annual
SMU16000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
934.77
Year-over-Year Change
11.89%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual Trend measures changes in annual average wages and salaries for all employees in the nonfarm business sector. It provides insight into the overall labor market and is a key indicator of economic health.
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 a measure of the average annual wages and salaries received by workers in the nonfarm business sector of the U.S. economy. It reflects changes in compensation levels and can signal broader trends in employment, productivity, and standard of living.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
Policymakers and economists closely monitor the Annual Trend to gauge inflationary pressures and assess the overall strength of the labor market.
Key Facts
- The Annual Trend reached a record high of $69,219 in 2019.
- Annual wage growth averaged 3.3% from 2010 to 2019.
- The trend declined sharply in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the average annual wages and salaries received by workers in the nonfarm business sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend provides insight into broader labor market conditions and can signal changes in employment, productivity, and living standards.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the Annual Trend to gauge inflationary pressures and assess the overall strength of the labor market.
Q: Are there update delays or limitations?
A: The Annual Trend data is typically released with a one-month lag and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU16000003000000030A), retrieved from FRED.