Annual
SMU72000005552200008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.34
Year-over-Year Change
-4.04%
Date Range
1/1/2001 - 1/1/2012
Summary
The Annual economic trend measures the year-over-year change in average weekly earnings for all employees in the private sector. This metric is a key indicator of wage growth and consumer purchasing power.
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
Annual tracks changes in average weekly earnings, which reflect the typical pay received by private sector workers. This data series is widely used by economists and policymakers to monitor the strength of the labor market and overall economic conditions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses.
Historical Context
Policymakers and analysts closely monitor wage growth to assess inflationary pressures and the health of consumer demand.
Key Facts
- Annual wage growth averaged 5.0% in 2022.
- Real (inflation-adjusted) wages fell 1.2% in 2022 despite high nominal growth.
- Wage growth has exceeded 4% for 9 consecutive months as of early 2023.
FAQs
Q: What does this economic trend measure?
A: The Annual economic trend measures the year-over-year change in average weekly earnings for all private sector employees.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of labor market strength and consumer purchasing power, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey of businesses.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor wage growth to assess inflationary pressures and the overall health of the labor market and consumer demand.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU72000005552200008A), retrieved from FRED.