All Employees: Construction: Heavy and Civil Engineering Construction in Illinois
Annual
SMU17000002023700001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.00
Year-over-Year Change
21.95%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the average annual wage and salary disbursements per full-time equivalent employee in the U.S. This high-level economic indicator is closely watched by policymakers and analysts to gauge labor market conditions and compensation trends.
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 provides a comprehensive measure of the average annual earnings of U.S. workers. It is calculated by the U.S. Bureau of Economic Analysis as the total wage and salary disbursements divided by the number of full-time equivalent employees. This metric offers insights into the overall strength and trajectory of worker compensation.
Methodology
The data is collected through surveys of employers and calculated using standard national accounting methods.
Historical Context
The Annual trend is a key input for policymakers and market analysts seeking to understand the health of the labor market and broader economic conditions.
Key Facts
- Average annual wage and salary per U.S. worker in 2022 was $76,530.
- Wage growth has outpaced inflation in recent years.
- The Annual trend tracks closely with other labor market indicators like unemployment and job creation.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual wage and salary disbursements per full-time equivalent employee in the United States.
Q: Why is this trend relevant for users or analysts?
A: This high-level economic indicator is closely watched by policymakers and analysts to gauge labor market conditions and compensation trends, offering insights into the overall strength and trajectory of worker earnings.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and calculated using standard national accounting methods by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: The Annual trend is a key input for policymakers and market analysts seeking to understand the health of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is typically released on a timely basis with minimal delays, though there may be limitations in capturing the full scope of wage and salary disbursements across the economy.
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Citation
U.S. Federal Reserve, Annual (SMU17000002023700001A), retrieved from FRED.