Hourly Compensation for Private Nonfarm in the District of Columbia
IPUZNU120110000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141.22
Year-over-Year Change
58.70%
Date Range
1/1/2007 - 1/1/2024
Summary
The Hourly Compensation for Private Nonfarm in the District of Columbia measures the average hourly wage and benefits paid to private sector workers in the DC metro area. This key economic indicator provides insights into labor market conditions and cost of living.
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 index tracks changes in the average hourly compensation, including wages and benefits, for private sector employees in the District of Columbia. It is a crucial metric for understanding the economic well-being of workers and inflationary pressures in the local market.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this trend to gauge the health of the local job market and inform decisions around fiscal and monetary policy.
Key Facts
- The index is published quarterly by the U.S. Bureau of Labor Statistics.
- Hourly compensation includes both wages and benefits such as health insurance and retirement contributions.
- DC has one of the highest average hourly compensation rates among major U.S. metro areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation, including both wages and benefits, for private sector employees in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being of private sector workers in the DC area and helps identify inflationary pressures in the local labor market.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the health of the local job market and inform decisions around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The index is published quarterly, so there may be a delay of several months before the latest data becomes available.
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Citation
U.S. Federal Reserve, Hourly Compensation for Private Nonfarm in the District of Columbia (IPUZNU120110000), retrieved from FRED.