Average Weekly Earnings of All Employees: Private Service Providing in Illinois
Annual
SMU17000000800000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,074.78
Year-over-Year Change
32.99%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual change in total nonfarm employment for the United States. This metric is closely watched by economists and policymakers as a key indicator of the overall health and growth of the U.S. 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 tracks the year-over-year percentage change in total nonfarm payroll employment, a broad measure of job creation and labor market conditions across the U.S. This data is compiled monthly by the Bureau of Labor Statistics and is a leading indicator used to assess economic performance and labor market trends.
Methodology
The data is collected through a monthly survey of businesses and government agencies to determine total nonfarm employment levels.
Historical Context
The Annual employment trend is a crucial input for Federal Reserve monetary policy decisions and is closely monitored by financial markets.
Key Facts
- The U.S. added over 6 million jobs in 2021, the highest annual gain on record.
- Annual nonfarm employment growth averaged 2.1% from 1939 to 2021.
- The largest annual decline was -5.7% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percentage change in total nonfarm payroll employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of overall economic health and labor market conditions, making it closely watched by economists, policymakers, and financial markets.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses and government agencies by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a crucial input for Federal Reserve monetary policy decisions and is closely monitored by financial markets to assess the strength of the U.S. economy.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Annual (SMU17000000800000011A), retrieved from FRED.