Average Hourly Earnings of All Employees: Construction in Missouri
Annual
SMU29000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.19
Year-over-Year Change
31.37%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual change in the employment level for the total private sector in the United States. This key economic indicator is closely monitored by policymakers and analysts to gauge the overall health 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 tracks the year-over-year percent change in total private sector employment in the U.S. It provides a broad view of hiring activity and is a crucial barometer of economic growth and business confidence.
Methodology
The data is collected through the Bureau of Labor Statistics' monthly surveys of establishments.
Historical Context
Changes in the Annual trend influence decisions around monetary and fiscal policies.
Key Facts
- The Annual trend reached a low of -5.7% in April 2020 during the COVID-19 pandemic.
- In 2022, the Annual trend showed a robust increase of 4.7%, indicating a strong labor market recovery.
- Historically, the Annual trend has fluctuated between -5% and 5% over the past two decades.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total private sector employment in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of the overall health of the labor market and provides insights into the strength of economic growth and business confidence.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Labor Statistics' monthly surveys of establishments.
Q: How is this trend used in economic policy?
A: Changes in the Annual trend influence decisions around monetary and fiscal policies, as it signals the direction of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is released on a monthly basis with a slight delay, typically within a few weeks of the end of the reference month.
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Citation
U.S. Federal Reserve, Annual (SMU29000002000000003A), retrieved from FRED.