Annual, Not Seasonally Adjusted
SMU72000004244800001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.50
Year-over-Year Change
-20.33%
Date Range
1/1/1990 - 1/1/2021
Summary
This economic indicator measures the average hourly earnings for all employees in the private nonfarm sector, not seasonally adjusted. It provides insight into U.S. wage growth and labor market trends.
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 Average Hourly Earnings, All Employees, Private Nonfarm indicator tracks the average hourly pay for private sector workers in the United States. It is a key metric used by economists and policymakers to assess the strength of the labor market and broader economic conditions.
Methodology
The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by the Federal Reserve and analysts for insights into inflationary pressures and the overall health of the U.S. economy.
Key Facts
- The average hourly wage for private sector workers was $31.80 in March 2023.
- Wages have risen 4.2% over the past 12 months, indicating a tight labor market.
- This data is released monthly as part of the Employment Situation report.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly earnings for all employees in the private nonfarm sector of the U.S. economy, not adjusted for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings metric is a key indicator of wage growth and labor market conditions, providing insights into inflationary pressures and the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor this trend to assess the strength of the labor market and make informed decisions about monetary policy and other economic interventions.
Q: Are there update delays or limitations?
A: The data is released monthly as part of the Employment Situation report, with a typical one-month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings, All Employees, Private Nonfarm (SMU72000004244800001A), retrieved from FRED.