Average Weekly Earnings of All Employees: Professional and Business Services in the District of Columbia
SMU11000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,268.31
Year-over-Year Change
43.77%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the professional and business services sector in Washington, D.C. It provides insight into wage growth and labor market conditions in this key industry.
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 Average Weekly Earnings of All Employees: Professional and Business Services in the District of Columbia is a monthly economic indicator that tracks the average weekly earnings of workers in this sector. It is used by economists and policymakers to assess employment dynamics and inflationary pressures in the local economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- Washington, D.C. is a hub for professional and business services.
- Wages in this sector have increased by 3.2% over the past year.
- The District of Columbia has the highest concentration of professional and business services jobs in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services sector in Washington, D.C.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into wage growth and labor market conditions in a key industry for the local Washington, D.C. 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: This trend is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in the District of Columbia (SMU11000006000000011A), retrieved from FRED.