Average Hourly Earnings of All Employees: Total Private in Tennessee
Annual
SMU47000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.09
Year-over-Year Change
49.33%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of total hours worked per week for all employees in the private sector in the United States. This metric is crucial for understanding labor market dynamics and productivity.
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 number of hours worked per week across all private-sector employees in the U.S. over a 12-month period. It is a key indicator of labor utilization and can provide insights into economic growth, employee compensation, and business cycle patterns.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use the Annual trend to assess the health of the labor market and inform decisions on monetary and fiscal policies.
Key Facts
- The annual average of total hours worked per week for private-sector employees in the U.S. was 34.4 in 2022.
- The Annual trend reached a low of 33.0 hours per week during the COVID-19 pandemic in 2020.
- The highest annual average on record for the Annual trend was 34.8 hours per week in 2000.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week across all private-sector employees in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a crucial indicator of labor market dynamics and productivity, providing insights into economic growth, employee compensation, and business cycle patterns.
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 use the Annual trend to assess the health of the labor market and inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The Annual trend data is typically published with a short delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU47000000500000003A), retrieved from FRED.