Average Hourly Earnings of Production Employees: Manufacturing in Utah
Monthly
SMU49000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.08
Year-over-Year Change
0.45%
Date Range
1/1/2005 - 7/1/2025
Summary
The Monthly Trend measures the number of new jobs added to the U.S. economy each month. It is a key indicator of economic health and a key metric used by policymakers and economists to assess the strength of the 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 Monthly Trend tracks the change in total nonfarm payroll employment, which includes jobs in the private sector and government. It is one of the most closely watched economic indicators and provides timely data on the pace of job creation and labor market conditions.
Methodology
The data is collected through a survey of businesses and government agencies by the U.S. Bureau of Labor Statistics.
Historical Context
The Monthly Trend informs monetary and fiscal policy decisions made by the Federal Reserve and Congress.
Key Facts
- The U.S. economy added 263,000 jobs in November 2022.
- The unemployment rate was 3.7% as of November 2022.
- Job growth has averaged 392,000 per month so far in 2022.
FAQs
Q: What does this economic trend measure?
A: The Monthly Trend measures the change in total nonfarm payroll employment, providing data on the pace of job creation in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Monthly Trend is a critical indicator of economic health and labor market conditions, informing the decisions of policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected through a survey of businesses and government agencies by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Monthly Trend informs monetary and fiscal policy decisions made by the Federal Reserve and Congress to promote employment, price stability, and economic growth.
Q: Are there update delays or limitations?
A: The Monthly Trend data is released by the Bureau of Labor Statistics on the first Friday of each month, with a delay of approximately three weeks.
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Citation
U.S. Federal Reserve, Monthly (SMU49000003000000008), retrieved from FRED.