Average Hourly Earnings of All Employees: Education and Health Services in Indiana
SMU18000006500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.80
Year-over-Year Change
46.51%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees in the Education and Health Services sector in Indiana measures changes in the average hourly wage for workers in these industries. This data provides insights into labor market conditions and compensation trends within an important segment of the state's economy.
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 indicator tracks the average hourly earnings of all employees, both full-time and part-time, working in the education and health services industries in Indiana. It is used by economists and policymakers to analyze trends in worker compensation and evaluate the strength of the labor market in these key service-providing sectors.
Methodology
The data is collected through surveys of businesses and establishments in Indiana.
Historical Context
This trend is closely monitored by state and federal officials to inform economic and workforce development policies.
Key Facts
- Indiana's education and health services sector employs over 600,000 workers.
- Average hourly earnings in this sector have risen by 20% over the past decade.
- Wages in this industry are typically higher than the overall state average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees working in the education and health services industries in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and compensation trends within an important segment of Indiana's economy, which can inform economic and workforce development policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Indiana.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal officials to inform economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with minimal delays.
Related Trends
Gross Domestic Product: Air Transportation (481) in Indiana
INAIRTRANNGSP
Total Personal Income in Indiana
INOTOT
Real Gross Domestic Product: Accommodation and Food Services (72) in Indiana
INACCOMDRQGSP
Average Hourly Earnings of Production Employees: Leisure and Hospitality: Food Services and Drinking Places in Indiana
SMU18000007072200008
All Employees: Construction: Construction of Buildings in Indiana
SMU18000002023600001
Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Indiana
INTRANSWAREQQGSP
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services in Indiana (SMU18000006500000003A), retrieved from FRED.