All Employees: Construction: Specialty Trade Contractors in Illinois
Monthly, Seasonally Adjusted
SMU17000002023800001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.24
Year-over-Year Change
1.17%
Date Range
1/1/1990 - 7/1/2025
Summary
The Monthly, Seasonally Adjusted series measures the hourly earnings of production and nonsupervisory employees in the total private sector in the United States. This key economic indicator provides insights into wage trends and labor market dynamics.
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
This monthly data series, published by the U.S. Bureau of Labor Statistics, tracks the average hourly earnings for private sector production and nonsupervisory workers. It is a widely-referenced metric for analyzing labor market health, consumer spending power, and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Historical Context
Policymakers and economists closely monitor this metric to inform decisions around monetary policy, minimum wage, and other labor market interventions.
Key Facts
- Private sector hourly earnings have risen by 5.2% over the past 12 months.
- Wage growth has outpaced inflation in recent quarters.
- Steady wage increases are a sign of a tight labor market.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly earnings of production and nonsupervisory employees in the total private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of labor market health, consumer spending power, and inflationary pressures, making this data highly relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of U.S. businesses.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor this metric to inform decisions around monetary policy, minimum wage, and other labor market interventions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU17000002023800001SA), retrieved from FRED.