Monthly, Seasonally Adjusted
SMU17000004245200001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.56
Year-over-Year Change
-4.89%
Date Range
1/1/1990 - 12/1/2022
Summary
The Monthly, Seasonally Adjusted series measures the average hourly earnings of production and nonsupervisory employees in the Private Service-Providing sector. This key economic indicator provides insights into wage growth and labor market conditions.
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 series tracks the average hourly earnings for private sector service workers, which comprise a significant portion of the U.S. workforce. It is used by economists and policymakers to assess inflationary pressures and the overall strength of the labor market.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. 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 series covers approximately 82% of private sector employment.
- Hourly earnings have increased by 3.5% over the past year.
- Wage growth has outpaced inflation, indicating a tightening labor market.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of production and nonsupervisory employees in the Private Service-Providing sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings provide valuable insights into wage growth and the overall strength of the labor market, which are crucial indicators for economic policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions closely monitor trends in average hourly earnings to inform monetary policy decisions and assess inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of approximately one month.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU17000004245200001SA), retrieved from FRED.