Average Weekly Earnings of Production Employees: Manufacturing in Pennsylvania
Annual
SMU42000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,087.73
Year-over-Year Change
48.18%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual average of total private employment in the United States. It is a key economic indicator used to analyze labor market conditions and overall economic performance.
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 total number of people employed in the private sector in the U.S. on an average annual basis. This metric is widely followed by economists, policymakers, and investors to gauge the health and growth of the broader economy.
Methodology
The data is collected through monthly surveys of U.S. businesses and households by the Bureau of Labor Statistics.
Historical Context
The Annual trend provides important context for assessing the strength of the labor market and overall economic activity.
Key Facts
- The Annual trend reached a record high of 126 million in 2019.
- Employment declined sharply in 2020 due to the COVID-19 pandemic.
- Private sector job growth is a critical driver of overall economic expansion.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average total number of people employed in the private sector in the United States on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of the overall health and growth of the U.S. economy, as private sector job creation is a critical driver of economic expansion.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of U.S. businesses and households conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the Annual employment trend to assess labor market conditions and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The Annual employment data is released with a short lag, typically within a few months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual (SMU42000003000000030A), retrieved from FRED.