Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Pennsylvania
Annual
SMU42000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.58
Year-over-Year Change
56.86%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual average of employment levels in the total private sector across the United States. This key metric provides insights into the overall health and direction 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 represents the average employment level over a 12-month period, offering a longer-term perspective on employment patterns compared to monthly or quarterly data. Economists and policymakers closely monitor this statistic to assess the strength and stability of the U.S. economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly nationwide sample of businesses and government agencies.
Historical Context
The Annual employment trend is a crucial input for making informed decisions about monetary and fiscal policies.
Key Facts
- The Annual trend reached a peak of 118.58 million in 2019.
- Employment levels dropped sharply in 2020 due to the COVID-19 pandemic.
- The Annual metric has shown steady recovery since the 2020 recession.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average level of total private sector employment in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of the overall health and direction of the U.S. labor market, which is crucial for economic policymaking and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey, a nationwide sample of businesses and government agencies.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a crucial input for making informed decisions about monetary and fiscal policies, as it reflects the broader state of the U.S. economy.
Q: Are there update delays or limitations?
A: The Annual employment data is released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU42000003100000008A), retrieved from FRED.