Average Hourly Earnings of All Employees: Construction in North Dakota
Annual
SMU38000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.75
Year-over-Year Change
47.06%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of all employees in the private sector in the United States. This metric is a key indicator of wage growth and economic 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 trend tracks the average hourly wage for all private sector employees in the U.S. economy. It is a widely followed metric that provides insight into the strength of the labor market and inflationary pressures.
Methodology
This data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess employment conditions and guide monetary and fiscal policy decisions.
Key Facts
- The Annual trend reached a peak of $31.58 in December 2022.
- Wage growth has accelerated in recent years amid a tight labor market.
- Monitoring wage trends is crucial for understanding inflation dynamics.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of all employees in the private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength of the labor market and inflationary pressures, making it a key indicator for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess employment conditions and guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly by the U.S. Bureau of Labor Statistics, with a typical delay of a few weeks.
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Citation
U.S. Federal Reserve, Annual (SMU38000002000000003A), retrieved from FRED.