Average Hourly Earnings of All Employees: Private Service Providing in Missouri
Annual
SMU29000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.33
Year-over-Year Change
44.09%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States. This metric is closely watched by economists and policymakers as an indicator of wage growth and inflationary pressures.
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 provides a comprehensive measure of changes in employee compensation over time. It is a key economic indicator used to gauge the overall strength of the labor market and consumer purchasing power.
Methodology
The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to help inform decisions on monetary policy and economic management.
Key Facts
- The Annual trend has shown steady wage growth in recent years.
- Wage growth is a key factor in the Federal Reserve's monetary policy decisions.
- Rapid wage growth can contribute to inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of labor market strength and inflationary pressures, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to help inform decisions on monetary policy and economic management.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical delay of a few weeks.
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Citation
U.S. Federal Reserve, Annual (SMU29000000800000003A), retrieved from FRED.