Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Louisiana
Annual
SMU22000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,147.74
Year-over-Year Change
21.77%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average annual pay in the private sector for the United States. It is a key indicator of economic well-being and wage growth.
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 represents the average annual pay earned by private sector workers in the U.S. This metric provides insights into income levels, purchasing power, and overall economic health.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of private establishments.
Historical Context
Policymakers and economists closely monitor this trend to assess the strength of the labor market and consumer spending.
Key Facts
- The average annual pay in the U.S. private sector was $63,251 in 2022.
- Annual pay has increased by 5.2% over the past year.
- Wage growth has outpaced inflation in recent quarters.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual pay earned by private sector workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into income levels, purchasing power, and the overall strength of the labor market.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of private establishments.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the strength of the labor market and consumer spending.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Annual (SMU22000003100000030A), retrieved from FRED.