Average Hourly Earnings of All Employees: Financial Activities in North Dakota
Annual
SMU38000005500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.32
Year-over-Year Change
70.46%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual Trend measures the average annual growth rate of total private employment in the United States. It is a key indicator of the overall health and strength of the U.S. labor market.
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 yearly change in total private employment, including both full-time and part-time workers. It is a widely-used metric for analyzing long-term trends and patterns in the U.S. job market and broader economic conditions.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of private businesses and households.
Historical Context
The Annual Trend is closely monitored by policymakers, economists, and investors to assess the direction and pace of the economy.
Key Facts
- The U.S. annual private employment growth rate averaged 1.7% from 2010 to 2019.
- In 2020, the annual private employment growth rate declined by 5.8% due to the COVID-19 pandemic.
- The service sector accounts for the majority of private employment in the United States.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the average annual growth rate of total private employment in the United States, including both full-time and part-time workers.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend is a key indicator of the overall health and strength of the U.S. labor market, and is closely monitored by policymakers, economists, and investors to assess the direction and pace of the economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of private businesses and households.
Q: How is this trend used in economic policy?
A: The Annual Trend is used by policymakers, economists, and investors to analyze long-term trends and patterns in the U.S. job market and broader economic conditions, informing decisions and assessments.
Q: Are there update delays or limitations?
A: The Annual Trend data is typically published with a one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU38000005500000003A), retrieved from FRED.