Average Hourly Earnings of Production Employees: Construction: Construction of Buildings in Missouri
Annual
SMU29000002023600008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.10
Year-over-Year Change
9.49%
Date Range
1/1/2003 - 1/1/2024
Summary
The Annual series measures the average hourly earnings of production and nonsupervisory employees in the private sector. This metric is a key indicator of wage growth and labor market conditions.
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 series tracks changes in the average hourly wage for production and nonsupervisory workers, which account for over 80% of private sector employment. It is used by economists and policymakers to assess labor market trends and inflationary pressures.
Methodology
Data is collected through monthly surveys of private businesses.
Historical Context
This metric is closely monitored by the Federal Reserve and other institutions for insights into monetary and fiscal policy decisions.
Key Facts
- Annual measures average hourly wages for over 80% of private sector workers.
- Wage growth is a key indicator of labor market health and inflationary pressures.
- The Federal Reserve closely monitors this metric for monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual series tracks the average hourly earnings of production and nonsupervisory employees in the private sector, which account for the majority of the workforce.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of wage growth and labor market conditions, providing insights into inflationary pressures and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of private businesses.
Q: How is this trend used in economic policy?
A: The Annual series is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU29000002023600008A), retrieved from FRED.