Average Weekly Hours of Production Employees: Construction in Missouri
Annual
SMU29000002000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.70
Year-over-Year Change
0.27%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the total annual earnings for all workers in the US. It is a key economic indicator used by policymakers and analysts to assess the overall health of the labor market and consumer spending.
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 total compensation, including wages, salaries, and benefits, earned by the US workforce over a 12-month period. It provides insight into economic growth, cost of living, and consumer purchasing power.
Methodology
The data is collected through surveys of US businesses and households by the Bureau of Labor Statistics.
Historical Context
Annual earnings data informs Federal Reserve monetary policy and helps businesses forecast consumer demand.
Key Facts
- Annual earnings reached a record high of $55.3 trillion in 2021.
- Earnings grew by 7.5% from 2020 to 2021, the fastest pace in over a decade.
- The services sector accounts for over 70% of total annual earnings in the US.
FAQs
Q: What does this economic trend measure?
A: The Annual trend tracks the total compensation, including wages, salaries, and benefits, earned by the US workforce over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: Annual earnings data provides key insights into economic growth, cost of living, and consumer purchasing power, informing policymaking and business decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of US businesses and households by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Annual earnings data informs Federal Reserve monetary policy and helps businesses forecast consumer demand.
Q: Are there update delays or limitations?
A: The Annual data is typically published with a 2-3 month delay to allow for comprehensive reporting from businesses.
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Citation
U.S. Federal Reserve, Annual (SMU29000002000000007A), retrieved from FRED.