Average Hourly Earnings of All Employees: Private Service Providing in Iowa
Annual
SMU19000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.95
Year-over-Year Change
40.33%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector, a key economic indicator used to track labor market conditions and inflation 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 Annual trend provides valuable insights into wage growth and labor costs, which are crucial for understanding overall economic performance and policymaking. Economists and analysts closely monitor this metric to assess the strength of the labor market and its implications for consumer spending, inflation, and monetary policy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by policymakers, businesses, and investors to gauge the health of the U.S. economy and inform their decision-making.
Key Facts
- The Annual trend measures average hourly earnings for production and nonsupervisory employees.
- Wage growth is a key indicator of labor market strength and inflationary pressures.
- Policymakers closely monitor this trend to inform decisions on monetary policy and economic stimulus.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector, providing insights into wage growth and labor costs.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the strength of the labor market, consumer spending, and inflationary pressures, which are all vital 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: Policymakers, businesses, and investors closely monitor the Annual trend to gauge the overall health of the U.S. economy and inform their decision-making, particularly in the areas of monetary policy and economic stimulus.
Q: Are there update delays or limitations?
A: The Annual trend is subject to periodic updates by the U.S. Bureau of Labor Statistics, and there may be minor lags in the data availability.
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Citation
U.S. Federal Reserve, Annual (SMU19000000800000003A), retrieved from FRED.