Average Hourly Earnings of All Employees: Private Service Providing in Nebraska
SMU31000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.41
Year-over-Year Change
48.37%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic indicator measures the average hourly earnings of all private service-providing employees in Nebraska. It provides insights into wage trends and the strength of the service sector in 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
The Average Hourly Earnings of All Employees: Private Service Providing in Nebraska is a key indicator that tracks changes in labor costs and the compensation levels of workers in the private service industry within the state. This data is used by economists and policymakers to monitor economic conditions and assess the overall health of the state's job market.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by state and local government officials, as well as businesses, to understand labor market dynamics and inform economic and policy decisions.
Key Facts
- The data is released monthly by the U.S. Bureau of Labor Statistics.
- Nebraska's private service sector accounts for over 70% of the state's total employment.
- Wages in the service sector can indicate the overall strength of the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private service-providing employees in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into wage levels and labor market conditions in Nebraska's crucial service sector, which is a significant driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: State and local government officials, as well as businesses, closely monitor this trend to understand labor market dynamics and inform economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly, with a typical lag of a few weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Nebraska (SMU31000000800000003A), retrieved from FRED.