Average Hourly Earnings of All Employees: Information in Pennsylvania
SMU42000005000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.70
Year-over-Year Change
90.54%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Hourly Earnings of All Employees: Information in Pennsylvania' trend measures the average hourly wage for workers in the information industry in Pennsylvania. This metric is a key indicator of economic conditions and labor market trends in 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 series represents the average hourly earnings of all employees in the information industry in Pennsylvania. The information industry includes businesses involved in publishing, telecommunications, data processing, and other information-related activities. Tracking changes in average hourly earnings provides insights into the strength of the labor market and broader economic conditions in the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the health of Pennsylvania's labor market and inform decisions on economic and workforce development policies.
Key Facts
- Pennsylvania's information industry employs over 300,000 workers.
- Average hourly earnings in the information industry are typically higher than the state average.
- The information industry accounts for approximately 5% of Pennsylvania's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the information industry in Pennsylvania. The information industry includes businesses involved in publishing, telecommunications, data processing, and other information-related activities.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in average hourly earnings in the information industry provides insights into the strength of the labor market and broader economic conditions in Pennsylvania. This data is relevant for policymakers, economists, and businesses making decisions about the state's economy and workforce.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health of Pennsylvania's labor market and inform decisions on economic and workforce development policies, such as investments in education, infrastructure, and support for the information industry.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of several weeks. There may be revisions to previously published data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Information in Pennsylvania (SMU42000005000000003A), retrieved from FRED.