Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Missouri
Annual
SMU29000003200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.43
Year-over-Year Change
29.88%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures average annual earnings for all private-sector workers in the United States. This key economic indicator provides insight into wage growth and living standards.
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 average annual earnings of private-sector workers across the U.S. economy. It is a widely-used metric that helps policymakers, economists, and the public understand changes in living standards and the overall health of the labor market.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in annual earnings are closely watched by the Federal Reserve and other institutions for their implications on monetary and fiscal policy decisions.
Key Facts
- Annual earnings reached a record high in 2022.
- Wage growth has outpaced inflation in recent years.
- The services sector accounts for the largest share of annual earnings.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual earnings of all private-sector workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in annual earnings provide important insights into living standards, consumer spending power, and the overall health of the labor market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in annual earnings are closely watched by the Federal Reserve and other institutions for their implications on monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The annual earnings data is published with a lag, but provides a comprehensive view of wage trends across the private sector.
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Citation
U.S. Federal Reserve, Annual (SMU29000003200000008A), retrieved from FRED.