Average Hourly Earnings of All Employees: Total Private in Missouri
Annual
SMU29000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.58
Year-over-Year Change
47.09%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures total annual hours worked by all employees in the private goods-producing sector of the U.S. economy. This metric is a key indicator of labor market activity 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 represents the total number of hours worked annually by employees in the private goods-producing industries, which include manufacturing, mining, and construction. This data is used by economists and policymakers to analyze labor market trends and assess the overall health of the economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend provides important context for interpreting other economic indicators like GDP, unemployment, and wage growth.
Key Facts
- The private goods-producing sector accounts for about 14% of total U.S. employment.
- Annual hours worked declined during the 2008-2009 recession but have since recovered.
- Manufacturing makes up the largest share of private goods-producing employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of hours worked annually by employees in the private goods-producing industries of the U.S. economy, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market activity and productivity within the private goods-producing sector, which is a key driver of overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the Annual trend to assess the health of the labor market and the overall goods-producing industries, which informs decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a 1-month lag, so the most recent figure reflects the prior month's activity.
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Citation
U.S. Federal Reserve, Annual (SMU29000000500000003A), retrieved from FRED.