Average Hourly Earnings of All Employees: Construction in Mississippi
Annual
SMU28000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.90
Year-over-Year Change
37.72%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual change in employment levels across the United States. This key indicator is closely watched by economists and policymakers to assess the health and trajectory of the labor market.
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 reflects the year-over-year change in total nonfarm employment, a broad measure of job creation and economic activity. This metric is a core input for evaluating the overall strength of the U.S. economy and helps inform monetary and fiscal policy decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly poll of businesses and government agencies.
Historical Context
Policymakers and analysts use the Annual trend to gauge the pace of economic recovery, monitor employment goals, and understand broader macroeconomic conditions.
Key Facts
- The Annual trend reached a record high of 3.5% in 2022.
- Employment levels remain below pre-pandemic peaks in some sectors.
- The Federal Reserve closely tracks the Annual trend in setting monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in total nonfarm employment across the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market health and broader economic conditions, informing policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Annual trend to gauge the pace of economic recovery, monitor employment goals, and understand broader macroeconomic conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a slight delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU28000002000000003A), retrieved from FRED.