All Employees: Construction in Puerto Rico
Annual, Not Seasonally Adjusted
SMU72000002000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.10
Year-over-Year Change
4.21%
Date Range
1/1/2003 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted economic trend measures the total annual average earnings for all private employees in the United States. This key labor market indicator provides insights into national income and consumption patterns.
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
This series tracks the average annual pay per employee across all private non-farm industries, regardless of seasonal fluctuations. It represents a broad measure of national wage growth and labor productivity trends that are closely watched by economists and policymakers.
Methodology
The data is collected through quarterly surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Historical Context
Private sector wage growth is a crucial input for the Federal Reserve's monetary policy decisions and economic forecasting.
Key Facts
- The annual average wage reached a record high of $63,219 in 2021.
- Private sector wages grew 4.7% year-over-year as of Q4 2022.
- Wage growth has outpaced inflation in recent quarters.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series tracks the average annual earnings per employee across all private non-farm industries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into national wage growth, labor productivity, and household income patterns that are closely monitored by economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected through quarterly surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Private sector wage growth is a crucial input for the Federal Reserve's monetary policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a slight lag, typically 1-2 months after the end of each quarter.
Related Trends
Population ages 65 and above for Puerto Rico
SPPOP65UPTOZSPRI
All Employees: Total Nonfarm in Puerto Rico
SMS72000000000000001
All Employees: Financial Activities in Puerto Rico
SMU72000005500000001
All Employees: Administrative and Support and Waste Management and Remediation Services in Puerto Rico
SMU72000006056000001A
All Employees: Financial Activities: Insurance Carriers and Related Activities in Puerto Rico
SMU72000005552400001SA
All Employees: Manufacturing: Non-Durable Goods: Chemical Manufacturing in Puerto Rico
SMU72000003232500001SA
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU72000002000000001A), retrieved from FRED.