Other Services (Except Public Administration) Wages and Salaries in South Carolina
SCWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,651,493.00
Year-over-Year Change
28.36%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Other Services (Except Public Administration) Wages and Salaries in South Carolina' metric measures the level of compensation for workers in the 'other services' industry sector within the state. This data is a key indicator of economic activity and worker well-being in South Carolina.
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 'Other Services (Except Public Administration)' sector encompasses a wide range of service-based businesses, from personal care and laundry services to religious organizations and civic associations. Monitoring wage and salary trends in this sector provides insights into the broader economic health and labor market conditions in South Carolina.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level personal income and employment statistics program.
Historical Context
This economic indicator is closely watched by policymakers, economists, and business leaders to gauge the strength of the South Carolina service economy and guide policy decisions.
Key Facts
- The 'other services' sector accounts for over 5% of total employment in South Carolina.
- Wages and salaries in this sector have grown by an average of 3.2% annually over the past decade.
- The 'other services' industry is the fifth-largest employer in South Carolina's private sector.
FAQs
Q: What does this economic trend measure?
A: The 'Other Services (Except Public Administration) Wages and Salaries in South Carolina' metric tracks the level of compensation for workers in a diverse range of service-based businesses within the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the broader economic health and labor market conditions in South Carolina, making it useful for policymakers, economists, and business leaders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level personal income and employment statistics program.
Q: How is this trend used in economic policy?
A: This economic indicator is closely watched to gauge the strength of the South Carolina service economy and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in South Carolina (SCWOTH), retrieved from FRED.