Average Weekly Earnings of Production Employees: Manufacturing in Puerto Rico
Annual
SMU72000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
551.04
Year-over-Year Change
7.29%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average annual growth rate of nominal wages and salaries in the U.S. private sector. This metric is a key indicator of inflationary pressures and labor market dynamics.
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 year-over-year percent change in average hourly earnings of all private nonfarm employees in the United States. It provides insight into the pace of wage growth, a critical factor for policymakers assessing the state of the economy.
Methodology
The data is collected through a monthly survey of U.S. businesses conducted by the Bureau of Labor Statistics.
Historical Context
Wage growth is closely monitored by the Federal Reserve and other economic analysts to gauge inflationary risks and the overall strength of the labor market.
Key Facts
- The Annual trend reached a high of 6.9% in March 2022.
- Wage growth has outpaced inflation for much of the past two years.
- Rapid wage increases can signal tightness in the labor market.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in average hourly earnings for private sector workers in the United States.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of labor market conditions and inflationary pressures, making the Annual trend important for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor wage growth to assess the overall health of the labor market and risks of inflation.
Q: Are there update delays or limitations?
A: The Annual trend is published monthly with a typical 1-2 month lag in the data.
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Citation
U.S. Federal Reserve, Annual (SMU72000003000000030A), retrieved from FRED.