Average Weekly Earnings of All Employees: Total Private in Massachusetts
Annual
SMU25000000500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,381.42
Year-over-Year Change
48.76%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual percentage change in average hourly earnings for all employees on private nonfarm payrolls in the United States. This metric is a key indicator of wage growth and inflationary pressures in the economy.
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 tracks the year-over-year change in average hourly wages, providing insight into the pace of wage inflation. It is a widely followed economic indicator used by policymakers, analysts, and businesses to assess labor market conditions and the overall strength of the economy.
Methodology
The data is collected through the Bureau of Labor Statistics' Current Employment Statistics survey of businesses.
Historical Context
Wage growth data informs Federal Reserve policy decisions and is closely watched by investors and consumers.
Key Facts
- Annual wage growth reached a high of 5.6% in 2022.
- Wages grew faster than inflation for much of 2022.
- The Federal Reserve closely monitors wage trends to guide monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percentage change in average hourly earnings for all private nonfarm employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of labor market conditions and inflationary pressures, making the Annual trend an important metric for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Labor Statistics' monthly survey of businesses, the Current Employment Statistics program.
Q: How is this trend used in economic policy?
A: The Federal Reserve closely monitors wage growth data to guide its monetary policy decisions, as rapid wage increases can contribute to broader inflationary pressures.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly by the Bureau of Labor Statistics, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Annual (SMU25000000500000011A), retrieved from FRED.