Average Weekly Earnings of All Employees: Private Service Providing in Connecticut
SMU09000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,257.32
Year-over-Year Change
4.63%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Private Service Providing in Connecticut' metric tracks the average weekly earnings of private service sector workers in Connecticut. This data provides insights into labor costs and economic conditions within the state.
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 economic series measures the average weekly earnings of all employees in the private service-providing industries in Connecticut. It is a useful indicator of labor market trends and compensation levels for the service sector, which is a major component of the state's economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to assess the financial health and purchasing power of Connecticut's workforce.
Key Facts
- Connecticut's private service sector employs over 1.2 million workers.
- Average weekly earnings in this sector have risen by 3.2% over the past year.
- The service-providing industries account for over 80% of Connecticut's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the private service-providing industries in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor market conditions and compensation levels within Connecticut's service sector, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the financial health and purchasing power of Connecticut's workforce, which informs decisions around economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Connecticut (SMU09000000800000011), retrieved from FRED.