All Employees: Service-Providing in North Dakota
Annual
SMU38000000700000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
369.70
Year-over-Year Change
5.63%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the annual percentage change in average hourly earnings for all employees on nonfarm payrolls in the United States. 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 the year-over-year change in average hourly earnings, providing insight into how worker compensation is evolving. This data point is closely monitored by economists and policymakers to assess inflationary pressures and the overall health of the labor market.
Methodology
The data is collected through the Bureau of Labor Statistics' monthly survey of employers.
Historical Context
Policymakers at the Federal Reserve utilize the Annual trend to help inform monetary policy decisions.
Key Facts
- The Annual trend reached a high of 5.9% in March 2022.
- Wage growth has outpaced inflation in recent months.
- The data is released monthly as part of the Bureau of Labor Statistics' Employment Situation report.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percentage change in average hourly earnings for all employees on nonfarm payrolls in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the pace of wage growth, which is a key indicator of labor market conditions and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Labor Statistics' monthly survey of employers.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve utilize the Annual trend to help inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is released monthly as part of the Bureau of Labor Statistics' Employment Situation report.
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Citation
U.S. Federal Reserve, Annual (SMU38000000700000001A), retrieved from FRED.