Educational Services Wages and Salaries in Massachusetts
MAWEDU • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,713,059.00
Year-over-Year Change
17.47%
Date Range
1/1/1998 - 1/1/2025
Summary
The Educational Services Wages and Salaries in Massachusetts trend measures the average hourly wages and salaries paid to workers in the educational services industry within the state. This data is crucial for analyzing labor market conditions and informing policy decisions.
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 compensation levels for teachers, administrators, and other personnel employed in Massachusetts schools, colleges, and other educational institutions. It provides insight into the competitiveness of the state's educational labor market and the overall cost of providing educational services.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this data to gauge the relative strength of the educational services sector and its impact on the broader state economy.
Key Facts
- Massachusetts has the highest average educational services wages in the U.S.
- Wages in the sector have grown by over 20% in the past decade.
- The educational services industry employs over 350,000 workers in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: The Educational Services Wages and Salaries in Massachusetts trend measures the average hourly wages and salaries paid to workers in the educational services industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the competitiveness of the state's educational labor market and the overall cost of providing educational services, which is crucial for analyzing labor market conditions and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to gauge the relative strength of the educational services sector and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Educational Services Wages and Salaries in Massachusetts (MAWEDU), retrieved from FRED.