Average Hourly Earnings of All Employees: Total Private in Missouri
SMU29000000500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.24
Year-over-Year Change
2.84%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Total Private in Missouri measure the average hourly wage for private sector workers in the state. This provides insights into the state's labor market conditions and cost of living.
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
This metric tracks the average hourly pay for all private industry employees in Missouri, regardless of occupation or job type. It is a key indicator of the overall compensation environment and can inform economic policy decisions.
Methodology
The data is collected through surveys of private employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the strength of Missouri's labor market and broader economic trends.
Key Facts
- Missouri's average hourly private sector wage was $26.72 as of the latest data.
- Wages have risen 3.2% in Missouri over the past year.
- Private sector employment accounts for over 80% of total jobs in Missouri.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wage for all private sector employees in the state of Missouri, providing insight into labor market conditions and compensation levels.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings trend is a key indicator of the overall economic health and cost of living in Missouri, and is closely monitored by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Missouri's labor market and make informed decisions about economic policy, such as minimum wage or tax policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of several weeks, so there may be delays in observing the most recent trends.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in Missouri (SMU29000000500000003), retrieved from FRED.