Average Weekly Earnings of Production Employees: Information in Utah
Annual
SMU49000005000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,324.96
Year-over-Year Change
86.04%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States. It is a key indicator of labor market conditions and worker compensation.
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 monthly average hourly earnings for production and nonsupervisory workers, providing insights into how wages are changing over time. It is a widely followed economic indicator used by policymakers, analysts, and businesses to assess labor market dynamics and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other economic policymakers to help inform monetary policy decisions.
Key Facts
- The Annual trend has increased by over 5% in the past year.
- Wage growth has outpaced inflation, indicating real gains for workers.
- The Annual trend reached a record high in 2022.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions and worker compensation, providing insights into how wages are changing over time.
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: The Annual trend is closely monitored by the Federal Reserve and other economic policymakers to help inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU49000005000000030A), retrieved from FRED.