Average Hourly Earnings of All Employees: Total Private in Louisiana
Annual
SMU22000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.70
Year-over-Year Change
34.30%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per week by all employees in the United States, providing insight into labor market conditions and productivity.
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 is an important economic indicator that reflects the overall labor force participation and work intensity in the U.S. It is closely monitored by economists, policymakers, and businesses to assess the health of the broader economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used to inform economic policy decisions and business strategies.
Key Facts
- The average weekly hours peaked at 34.6 in 2020.
- Hours worked declined during the COVID-19 pandemic.
- Longer work hours can indicate a tight labor market.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by all employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into labor market conditions and productivity, which are crucial for assessing the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used to inform economic policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Annual (SMU22000000500000003A), retrieved from FRED.