Annual, Not Seasonally Adjusted
SMU17000004244300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.90
Year-over-Year Change
-15.04%
Date Range
1/1/1990 - 1/1/2021
Summary
This annual, not seasonally adjusted economic indicator measures average hourly earnings for private nonfarm production and nonsupervisory employees in the U.S. It provides insight into labor market conditions and inflationary pressures.
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 Average Hourly Earnings indicator represents the average hourly wage rate for private nonfarm production and nonsupervisory employees. It is a key metric used by economists and policymakers to assess labor market strength, inflationary trends, and the purchasing power of workers.
Methodology
The data is collected through monthly surveys of U.S. establishments by the Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- The average hourly wage in the U.S. was $32.16 as of the latest data.
- Hourly earnings have increased by 5.2% over the past 12 months.
- Wage growth is a key factor the Federal Reserve monitors for potential interest rate adjustments.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average hourly wage rate for private nonfarm production and nonsupervisory employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings provide insight into labor market conditions, inflationary pressures, and the purchasing power of workers, making it a closely watched metric by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of U.S. establishments conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions closely monitor average hourly earnings to inform monetary policy decisions, as wage growth is a key factor in assessing inflationary pressures.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of 1-2 weeks from the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production and Nonsupervisory Employees, Total Private (SMU17000004244300001A), retrieved from FRED.