Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Illinois
Monthly
SMU17000003100000007 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.50
Year-over-Year Change
-0.74%
Date Range
1/1/2001 - 7/1/2025
Summary
The Monthly trend measures the monthly change in the average hourly earnings of all employees on private nonfarm payrolls. This metric is a key indicator of wage growth and inflationary pressures in 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 Monthly trend represents the month-over-month percentage change in average hourly earnings, providing insight into the strength of worker compensation and the potential for rising consumer prices. Economists and policymakers closely monitor this data to assess the state of the labor market and guide monetary policy decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in average hourly earnings influence the Federal Reserve's interest rate decisions and economic growth forecasts.
Key Facts
- The Monthly trend is released monthly by the U.S. Bureau of Labor Statistics.
- Wage growth is a key component of the Federal Reserve's dual mandate of price stability and maximum employment.
- Rising average hourly earnings can signal increasing inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: The Monthly trend measures the month-over-month percentage change in the average hourly earnings of all employees on private nonfarm payrolls.
Q: Why is this trend relevant for users or analysts?
A: This trend is a crucial indicator of wage growth and inflationary pressures, providing insight into the strength of the labor market and guiding monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Changes in average hourly earnings influence the Federal Reserve's interest rate decisions and economic growth forecasts, as wage growth is a key component of the central bank's dual mandate.
Q: Are there update delays or limitations?
A: The Monthly trend is released monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of around one month.
Similar SMU Trends
All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Illinois
SMS17000006054000001
Gross Domestic Product: Private Services-Providing Industries in Illinois
ILPRISERVPRONGSP
Average Weekly Earnings of All Employees: Goods Producing in Illinois
SMU17000000600000011A
All Employees: Health Care: Offices of Other Health Practitioners in Illinois
SMU17000006562130001A
Real Gross Domestic Product: Primary Metal Manufacturing (331) in Illinois
ILPRIMETMANRGSP
Chain-Type Quantity Index for Real GDP: Broadcasting (Except Internet) and Telecommunications (515, 517) in Illinois
ILBRDTELEQGSP
Citation
U.S. Federal Reserve, Monthly (SMU17000003100000007), retrieved from FRED.